Taxes
New opportunity to save on taxes in Hungary: If your Hungarian company does most of its business in foreign currencies, you can avoid exchange fees by paying your taxes directly in EUR or USD. The new rules apply to TAO and HIPA (the regular corporate tax and the local business tax), and will be relevant …
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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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If you were a KATA subject, you probably had to make some tough decisions over the last month or so. As 1 September, the great watershed is here, let’s have an overview of things to take care of when switching to KATA 2.0 or choosing another tax regime. Which way next? KATA was available to …
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Non-EU residents visiting the EU have the option to avoid paying VAT on their purchases in Hungary. This is possible either by shopping duty-free at an airport, or by making purchases at regular stores and reclaiming VAT upon leaving the EU.
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Early July, the U.S. canceled the double taxation treaty between Hungary and the U.S. Unless a new treaty is signed over the next year or so, natural persons and entities that have income from both the U.S. and Hungary will face a significant tax increase starting from January 2024. Double taxation treaty with the U.S. …
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If you are not a citizen of Hungary, you might need a property purchase license before you can finalize the deal – your lawyer can take care of it. After purchase, you will be required to pay property tax, which is normally 4% of the purchase price.
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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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Starting from September, many current KATA subjects are losing eligibility for this tax regime. If “KATA orphans” want to continue doing business as self-employed in Hungary, they must choose another form of taxation. Flat-rate taxation is among the most cost-effective options for freelancers. Flat-rate taxation in a nutshell Similarly to KATA, flat-rate taxation (“átalányadózás” in …
The post KATA alternative no. 1 for the self-employed: flat-rate taxation appeared first on Helpers Finance.