Payroll Taxes
KATA orphans and other new freelancers: this is your reminder that you are supposed to make a monthly declaration of your taxable income until the 12th of each month in Hungary. The relevant form, 2258, is now available online as well as in the software for submitting tax related data. Make sure to submit it …
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Representation tax in Hungary is a tax imposed on catering-like expenses of companies. It is intended to deter enterprises from making personal purchases with company money and then deducting the expenses from their taxes, so it is a significant tax you should keep in mind when planning expenses. Why “representation” tax? When you welcome people …
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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. EKHO is for natural persons The beneficiaries of the EKHO tax …
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While flat-rate taxation is a cost-effective alternative for self-employed KATA orphans from September, it is not available for limited partnerships. Instead, they may consider whether TAO, KIVA and/or EKHO are suitable alternatives for their company. Limited partnerships in Hungary The limited partnership (“betéti társaság” or “BT”) in Hungary is a popular form of company for …
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After new restrictions on the KATA tax regime made it impossible for many current KATA taxpayers to continue doing business under the same rules, we have compiled a set of options they can choose instead, complete with drawbacks and pitfalls. KATA: the tax for small taxpayers 10 years ago, KATA was introduced to encourage people …
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SZÉP card is the most popular form of fringe benefits in Hungary. It can normally be used for recreational activities, but because of the pandemic, some alterations were introduced. Among these, users were allowed to use the SZÉP card for buying foodstuff as well – with July that has come to an end.
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Summer is here, which means a substantial number of students are entering the labor market for the next few months. Just as well, since various industry sectors are in need of the surplus, such as hospitality and agriculture. But how is student work taxed in Hungary, and how can your Hungarian company employ students? Student …
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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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The deadline for submitting the 2021 tax returns in Hungary is creeping closer: 20 May 2022. Don’t worry, it’s not much work: just review the prefilled version prepared by the Tax Authority. If all looks good, hit the submit button, and you are done. Oh, and while you are at it, don’t forget to donate …
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