Accountancy
Your accountants file a monthly or quarterly VAT report on your behalf. The frequency of VAT reports depends on your trade volume or activity. The report is filed by the 20th of the month following the relevant month or quarter. If your VAT reclaimable is more than your VAT payable, you can reclaim the difference in the VAT amount from the Tax Authority.
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The rules and regulations on issuing an invoice set by the Hungarian Tax Office are stricter than in many European countries. Keeping the following points in mind, you’ll be able to easily conform to the regulations and avoid Tax Office fines. Basic data First, you need the basic data of the buyer: their official company […]
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If you buy supplies or equipment that you need for your company’s operation in Hungary, you can write these off as company-related expenses, which decreas the company tax you have to pay at the end of the fiscal year. But be careful: to be able to do this, you need to get a fiscal invoice […]
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Dividend is a payment made to the company’s owners from the profit after taxation and free accumulated profit reserves. This also means that if a company did not produce profit, it cannot pay a dividend.
The post How can I get a dividend payment from my Hungarian company? appeared first on HELPERS.
Employees are entitled to wage supplements when they work overtime, on weekends, at night or on state holidays. As the employer, it is your legal responsibility to determine your employee’s schedules, so you need to take the mandatory wage supplements into account when doing so.
The post When do I need to pay overtime to employees? appeared first on HELPERS.
Keeping your Hungarian company compliant starts with submitting all reports and accounting documents on time, paying taxes, contributions and salaries when they are due and ensuring all contracts and invoices conform to regulations. In order to ensure this, you need to gather reliable information about all your business partners; ideally, before you start any business […]
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Authorities let companies reduce payroll taxes if they employ workforce who have difficulties entering the labor market. Members of the listed groups may prove as eager, skilled, and earnest employees as anyone else, while employing them grants you significant payroll tax relief.
The post How to reduce payroll taxes in Hungary? appeared first on HELPERS.
If you operate a Hungarian company, you will want to be aware of certain accounting deadlines when you should pay taxes and contributions. Your accountant will always remind you when a payment is due.
The post Company ownership in Hungary – The most important accounting deadlines appeared first on HELPERS.
In Hungary, spending company money is strictly regulated. If you buy things for your company, you simply need an invoice. If you want to buy things for yourself, you take salary or dividend. Let us show you the basics.
The post How to spend company money – Employment in Hungary appeared first on HELPERS.
The gross salary is what you agree on with your new hire. Employees pay taxes and contributions from that, so in the end they receive only their net salary. Your company also pays contributions, and the sum an employee actually costs you is called super gross salary.
The post How do you calculate salary and contributions in Hungary? – Employment in Hungary appeared first on HELPERS.