Personal Income Tax
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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On 8 July 2022, the U.S. officially notified Hungary that it was unilaterally terminating the double taxation treaty between the two countries. But what does that mean exactly, and what to expect?
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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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When you set up a Hungarian company, you probably expect to make money on it. But how much of the company’s revenue can you actually take for yourself? Learn the basics of Hungarian corporate taxes, and how to take dividend from your company. From revenue to profit The money your Hungarian company gets from sales …
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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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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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The white card is a new residency option in Hungary targeting digital nomads: third country citizens employed by foreign companies who perform their job online and like always being on the go. But how does paying taxes work as a white card holder? Let us help you find out! White card: residency for digital nomads …
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Starting from 2022, people under 25 do not pay personal income tax in Hungary. The new regulation aims at making the employment of young people more attractive to employers, while giving young people a boost in getting independent and starting their own life. Personal income tax benefit of young people from 2022 Under the new …
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The ongoing coronavirus pandemic has had dire effects on world economy, creating bottlenecks in supply chains, rearranging the labor market, and increasing inflation, with the effects expected to be felt well into 2022. What are the most obvious changes? Find out with us.
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The personal income tax refund for families, first floated in June, has recently been finalized. Anyone raising children in Hungary can expect a refund on their personal income tax paid in 2021, reimbursed early 2022. Are you eligible? How much to expect? Find out below! Who is eligible for the personal income tax refund? The …
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