Benefits
Under specific circumstances, your employees are entitled to receive cash benefits from the social security system. Social security allowances are usually paid directly by the Treasury, but in some cases, the employer can become a paying agent for them.
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If you have employees working for your Hungarian company, they will be entitled to paid time off in line with Hungarian labor law. PTO is not an option: you as an employer must make sure that your employees have taken all their PTO by the end of each year.
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Employees of Hungarian companies may apply for an unemployment benefit, or officially a jobseeker’s allowance after the employment relationship is terminated. This way they can sustain themselves while they are looking for a job. However, this benefit is available only if the employee is allowed to stay in Hungary.
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Hungary does not have a progressive tax system, so it doesn’t really have tax brackets. However, it offers various tax benefits and preferential tax regimes that are available under certain income limits.
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Paid time off or PTO is an integral part of labor law in Hungary. Workers need time off to rest, to heal, or to take care of emergencies without compromising their livelihood. The number of days available for PTO each year depends on various factors.
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If you are in the middle of hiring a person like this, you should consider choosing a starting date still in July, so you can still take advantage of the tax benefit of labor market entrants while it is available.
The post Tax benefit of labor market entrants reduced from August 2024 appeared first on Helpers Finance.
The Széchenyi Card Program is government-backed loan construction to support development projects at small and medium sized businesses in Hungary. With its 5% interest rate, it is an excellent option in the current financial environment.
The post Is the loan of the Széchenyi Card Program a good option for your small business? appeared first on Helpers Finance.
EKHO is short for Simplified Tax and Contribution (“Egyszerűsített Közteherviselési Hozzájárulás”) in Hungary. It is a favorable tax regime aimed at creators in various fields intended to promote Hungarian culture. Learn its basics, and find the list of professions that can make you eligible.
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When you hear the word “cafeteria”, normally you would think of a self-service restaurant. In Hungary, however, “cafeteria” is the collective term for fringe benefits you can give your employees above their gross salary. Learn how it works, and see if it can be beneficial to your Hungarian company. Cafeteria can make you a more […]
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We have already written about most changes to taxation in Hungary 2022 – most of which are tied to the ongoing pandemic and the government’s efforts to increase the purchase power of salaries while also creating a more favorable business environment for companies. Now see a summary of the changes, with links to the more detailed descriptions.
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