Invoicing
In Hungary, the rate of VAT is usually 27%. There are some special product types where VAT rates are lower. Before you start trading in Hungary, make sure you know how much VAT you must pay to the tax authority in order to properly adjust your margins.
The post VAT rates in Hungary appeared first on HELPERS.
In general, the costs related to a business trip are accepted as business costs in Hungary, and as such are deductible from the corporate tax. Some expenses, however, are subject to the so called “representation tax”.
The post Travel expenses of a managing director in a Hungarian company appeared first on HELPERS.
VAT regulations in Hungary are amended each year to adapt to the changing economical environment. Learn about the 2018 VAT reduction and other new regulations regarding invoices with a high VAT content.
The post How does VAT in Hungary change in 2018? appeared first on HELPERS.
If you operate a Hungarian company, whenever you sell something, you have to issue an invoice. But what kind of data should you include? Read on, and learn what to write on the invoice in Hungary! Data of your company You have to include the basic data of your company, so no one can have […]
The post What to write on the invoice in Hungary? – Accountancy quick guide appeared first on HELPERS.
The Hungarian Tax Authority introduced the representation tax in order to avoid companies buying personal supplies on company money, this way reducing the company’s profit (and paying less as corporate tax).
The post The so-called “representation tax” in Hungary: What is it and how are food, drink, and travel expenses taxed appeared first on HELPERS.
Your accountant will regularly file VAT reports to the authorities, in which your (EU) VAT number will be indicated as well as the VAT payable and VAT reclaimable. The frequency of VAT reports depends on your trade volume or activity.
The post What is a VAT report in Hungary and how does it work? appeared first on HELPERS.
When you open a Hungarian company, you immediately get an EU VAT number with it. But how can you use it to sell and acquire products or services within the EU without charging VAT on these sales?
The post How to use my EU VAT number? appeared first on HELPERS.
A properly issued invoice is essential for keeping your company compliant. Without it, you might be faced with being charged extra hours for accountancy, tax audits and even fines. Options for issuing invoices in Hungary In many countries, invoices can be issued by Word or Excel. However, Hungarian companies must either use an official invoice […]
The post Why should I use an invoice booklet in Hungary? appeared first on HELPERS.
A properly issued invoice is essential for keeping your company compliant. Without it, you might be faced with being charged extra hours for accountancy, tax audits and even fines. In many European countries, invoices can be issued by Word or Excel. However, Hungarian companies must either use an official invoice booklet or an invoicing software licensed […]
The post Why should I use an invoicing program in Hungary? appeared first on HELPERS.
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.
The post How do I reclaim VAT in Hungary? appeared first on HELPERS.