Payroll Taxes
Retirement age in Hungary is 65 years, after which everyone can receive pension from the state. However, people are allowed to work even if they pass that age. In fact, employing pensioners is encouraged by various tax benefits.
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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.
When it comes to Hungarian labor rights, commuting means that an employee lives in a settlement different from where their workplace is located. When that happens, the employee is eligible for the reimbursement of their commute expenses.
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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.
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.
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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.
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Whether it is because of increased turnover or employees taking their holidays, your business might be in need of temporary workers. You have various options, just make sure to declare the employment correctly to avoid fines.
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Last week the 2024 changes to taxes in Hungary were announced. While the package a number of tax increases to counter inflation, most taxes directly relevant to doing business, such as corporate tax and payroll taxes remain the same. Read on to see what’s new.
The post 2024 changes to taxes in Hungary appeared first on Helpers Finance.