Accountancy
When you operate a Hungarian company, planning your budget should include planning for payroll costs. Depending on your business model, you might need to apply wage supplements from time to time, so it is worth getting familiar with them.
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Tax returns season is starting soon in Hungary. Drafts created by the Tax Authority become available next week; the deadline for submission is 21 May 2024.
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Labor law in Hungary is quite strict about how much time employees must be allowed to rest. They have at least 20 days of paid leave each year, and the law also defines reasons for exemption from work, when the employee still gets paid.
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The agreement remained in force until 31 December 2023, but now it is not applicable anymore. In response, Hungary has introduced some changes to tax regulations to mitigate the impact.
The post US-Hungarian double taxation treaty canceled – what to watch out for? appeared first on Helpers Finance.
To support people who live with severe health conditions, Hungary offers them a special type of personal income tax benefit. The disability benefit reduces the personal income tax one has to pay, increasing the net salary of employees.
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This year, the minimum wage was increased by 15%, while the guaranteed minimum salary by 10%. No changes were made to payroll taxes in 2024, but there have been some changes to the SZÉP Card.
The post Salaries and payroll taxes in 2024, Hungary appeared first on HELPERS.
A new year has started, and again tax regulations are updated and clarified in Hungary. There are no major tax changes this year, but make sure to read our overview and ask your accountant if there is anything you should pay special attention to this year.
The post 2024 tax changes affecting businesses in Hungary appeared first on Helpers Finance.
While major taxes do not change very often in Hungary, the system is tweaked every year. Read on to learn about changes to taxes most relevant to employees and HR, such as fringe benefits, the social contribution tax, and taxes on various types of gifts.
The post Changes to taxes in 2024 in Hungary relevant for HR appeared first on Helpers Finance.
Like every year, minimum wages have recently been adjusted to offset the impact of inflation. The minimum wage was increased by ca. 15%, and the guaranteed minimum salary by ca. 10%. There have been no changes to payroll taxes in 2024. At the same time, there are some new features for the SZÉP Card.
The post Salaries and payroll taxes in 2024, Hungary appeared first on Helpers Finance.
The Hungarian government has announced the minimum wage and the guaranteed minimum salary for 2024. The gross minimum wage will increase by 15%, and the guaranteed minimum salary by 10%. The increase is implemented early, as of 1 December 2023.
The post Minimum wage in Hungary in 2024 appeared first on Helpers Finance.