Taxes
In Europe, VAT is a tax on consumption, added to the net price of goods. Standard VAT rates are different in each EU member state and depend on the type of goods or services. If you trade internationally, calculating VAT will be an essential part of your accounting and bookkeeping.
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The deadline to report your personal income tax in Hungary is coming up: 21 May 2024, Tuesday. At the same time, you can also donate 1+1% of your taxes. This costs you nothing, and you can support a good cause.
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Are running a business in Hungary? Then you must pay a local business tax to the municipality where your business is registered. Even if you don’t need to pay, normally you must submit a report every year.
The post Local business tax: report HIPA for 2023 on the 23HIPAK form by 31 May appeared first on Helpers Finance.
Tax returns season is starting soon in Hungary. Drafts created by the Tax Authority become available next week; the deadline for submission is 21 May 2024.
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The agreement remained in force until 31 December 2023, but now it is not applicable anymore. In response, Hungary has introduced some changes to tax regulations to mitigate the impact.
The post US-Hungarian double taxation treaty canceled – what to watch out for? appeared first on Helpers Finance.
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.
A new year has started, and again tax regulations are updated and clarified in Hungary. There are no major tax changes this year, but make sure to read our overview and ask your accountant if there is anything you should pay special attention to this year.
The post 2024 tax changes affecting businesses in Hungary appeared first on Helpers Finance.
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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