Payroll Taxes
The parliament has recently approved tax cuts in Hungary from 2022. This week, we take a look at the update to regulations, explaining how it will affect your business in Hungary.
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the government recently had to adjust the corresponding rules due to the economic impact of Covid. But what are these changes are and how long will they be in place?
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The recent changes to regulations have increased the minimum wage in Hungary by 4%. The guaranteed minimum salary, another type of minimum pay, has also grown by the same amount. In this blog post, we explain how this affects your accounting.
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As of 1 February 2021, the minimum wage is raised to gross HUF 167,400, and the guaranteed minimum salary to gross HUF 219,000. Learn how this affects your company costs.
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While decreasing business volumes caused by the pandemic place an unexpected burden of both employers and employees, various benefits and tax reductions help business owners in Hungary to retain work force while keeping their business afloat. State aid for reduced working hours Lower business volume means less income as well as less work. As a …
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Part of the economic relief measures in Hungary due to the coronavirus pandemic, some payroll taxes are reduced to help retain employees and heighten job security. The structure of fringe benefits and healthcare contributions also changes.
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As part of the economic relief measures in Hungary related to the COVID-19 pandemic, the government will provide an allowance for 3 months for income lost due to reduced working hours.
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The Hungarian government introduced the following economic relief measures to alleviate the burdens posed by the current COVID-19 pandemic, and make sure it is easier for everyone to get through these difficult times and pick up work once the situation clears up:
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2020 has just started, and the new regulation for Hungarian payroll taxes and salaries are in. The most significant change is the increase of the minimum wage.
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Employ disadvantaged workers and reduce the payroll taxes your Hungarian company pays to make your Hungarian operation more cost-effective.
The post How to reduce payroll taxes in Hungary in 2019? appeared first on HELPERS.