Taxes
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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In times of change, it makes sense to base your plans on factors that are less liable to change. This is why it is worth choosing Hungary when you are moving your business to Europe.
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When you want to start doing business in Hungary, you might want not to create an individual LLC but set up an outpost of your foreign company, which can be a branch office or a commercial representative office.
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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 …
The post Pandemic relief: state aid, modified payroll taxes and unpaid leave rules appeared first on Helpers Finance.
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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KIVA, or the small business tax benefits companies in the service industry in Hungary. It is best for companies selling their expertise instead of goods.
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Are you operating a company in Hungary? Then get ready for 2020, and learn about the changes to regulations that might be relevant to your operation, including VAT, KIVA, and the minimum wage.
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In Hungary, the rate of VAT is usually 27%. There are some special product types where VAT rates are lower. Before you start trading in Hungary, make sure you know how much VAT you must pay to the tax authority in order to properly adjust your margins.
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