Inflation
The Hungarian minimum wage has just been increased with ca. 15% for 2023, which will affect not only payroll costs, but also various other tax items tied to the minimum wage. Read on to find out which of these will matter for your Hungarian business. Minimum wage and guaranteed minimum salary In Hungary, there are …
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As the end of the year is creeping closer, it is worth starting to prepare for the new year. January is traditionally the season for the introduction of new tax regulations. Read on to find out about the expected changes to taxes in Hungary in 2023. Flat-rate taxation Starting from next year, the conditions for …
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How to make the most of your money is never an easy question. Especially under the current, unprecedented circumstances, among a pandemic, war, and increasing energy costs, it is increasingly difficult to make the right investment decisions. Read on to get an overview of the most prominent economic trends in Hungary in October 2022. Inflation …
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To counter the effects of inflation, new government securities are introduced in Hungary, while existing ones are also updated to provide safe options for savings and investment in Hungary. Announcement by the Government Debt Management Agency Starting from 19 September, interest rates will be increased as follows: One Year Hungarian Government Securities (EMÁP): from 4.75% …
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KATA is one of the most popular tax regimes in Hungary among small taxpayers. For some time, there have been talks about the introduction of further restrictions starting from 2023 (we wrote about them here). Now in just two days, the government has accepted a new set of regulations that practically eliminates KATA from September. …
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The Monetary Council of the Hungarian Central Bank increased the base rate with an unexpected 185 basis points. Now analysts expect a base rate above 10% for the fall, which should help restrain inflation and the depreciation of HUF compared to EUR. Base rate increased to 7.75% The recent increase of 185 basis points is …
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For the last few months, price caps have been in force in Hungary for fuels and some basic grocery items. While originally they were supposed to be expire in May 2022, the price caps were extended until 1 July 2022. Get an overview of the current situation, and see how it affects your Hungarian company. …
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Stagflation is when economic growth slows down while inflation continues to increase. Developments of the last few years, most prominently the COVID pandemic and the war in Ukraine are making stagflation an increasing possibility. What do projections say, and how can you best prepare your Hungarian business? Factors leading towards stagflation The coronavirus pandemic that …
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Cryptocurrencies are stateless, decentralized, anonymous digital currencies, which have often been viewed as a kind of doomsday insurance. They were supposed to be resilient to the fluctuations of the real world, but they have not exactly delivered on that promise as the new dominant international asset. Currency volatility in the crypto landscape The lack of …
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The war in Ukraine creates uncertainty in the entire region. Scarcity and instability hasten inflation, which at this scale is capable to affect the global economy. These effects are most obvious in the changes to foreign exchange rates. Currency volatility in Europe The fights in Ukraine affects most the countries that are closest, and which …
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