Taxes
Only 9% is payable regardless of how much your turnover or profit is. Although some countries apply higher corporate tax rates to companies with higher profit, there is no such rule in Hungary. This means that you can take advantage of the lowest corporate tax rate in Europe regardless of your business volume.
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The Hungarian Tax Authority introduced the representation tax in order to avoid companies buying personal supplies on company money, this way reducing the company’s profit (and paying less as corporate tax).
The post The so-called “representation tax” in Hungary: What is it and how are food, drink, and travel expenses taxed appeared first on HELPERS.
Having an EU VAT number improves trading relations with European partners quite a bit. Cross-border transactions are mostly exempt from VAT if both you and your business partner have an EU VAT number. Needless to say, this is greatly beneficial for your cash flow as well as for VAT administration.
The post Get your immediate EU VAT number appeared first on HELPERS.
Your accountant will regularly file VAT reports to the authorities, in which your (EU) VAT number will be indicated as well as the VAT payable and VAT reclaimable. The frequency of VAT reports depends on your trade volume or activity.
The post What is a VAT report in Hungary and how does it work? appeared first on HELPERS.
When you open a Hungarian company, you immediately get an EU VAT number with it. But how can you use it to sell and acquire products or services within the EU without charging VAT on these sales?
The post How to use my EU VAT number? appeared first on HELPERS.
2017 has just started, and the new regulation for Hungarian payroll taxes and salaries are in. The government has finalized its decisions, and the most significant changes are the increase of minimum wage and the decrease in the employer’s payroll taxes.
The post Salaries and payroll taxes in 2017, Hungary appeared first on HELPERS.
Value Added Tax, or VAT in Hungary is a consumption based tax, which is regularly added to the net price of products sold. If you have a company and you can reclaim VAT, its sum will matter to you. So let’s see the changes to VAT in Hungary in 2017.
The post How does VAT in Hungary change in 2017? appeared first on HELPERS.
Hungarian taxation rules are quite strict. If you run a Hungarian company, you need an accountant who is knows the latest updates to regulations and all declaration process changes.
The post What are the changes to the tax declaration process in 2017? appeared first on HELPERS.
Personal income tax in Hungary is currently 15%. It is deducted from the gross salary of employees, who get only their net salary. It is the employer who transfers taxes and contributions to the authorities. This will not change in 2017 – let’s see what will!
The post How do Hungarian personal income tax and social contributions change in 2017? appeared first on HELPERS.
Your accountants file a monthly or quarterly VAT report on your behalf. The frequency of VAT reports depends on your trade volume or activity. The report is filed by the 20th of the month following the relevant month or quarter. If your VAT reclaimable is more than your VAT payable, you can reclaim the difference in the VAT amount from the Tax Authority.
The post How do I reclaim VAT in Hungary? appeared first on HELPERS.