Taxes
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.
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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SZÉP card is the most popular form of fringe benefits in Hungary. It can normally be used for recreational activities, but because of the pandemic, some alterations were introduced. Among these, users were allowed to use the SZÉP card for buying foodstuff as well – with July that has come to an end.
The post SZÉP card in Hungary in 2022 appeared first on HELPERS.
On 12 July 2022, just one day after its proposal, the Hungarian Parliament has accepted the new KATA law that will affect more than 430,000 taxpayers in Hungary, most of who will no longer be eligible for this tax regime starting from 1 September.
The post KATA changes introduced in the middle of the year appeared first on HELPERS.
KATA is one of the most popular tax regimes in Hungary among small taxpayers. For some time, there have been talks about the introduction of further restrictions starting from 2023 (we wrote about them here). Now in just two days, the government has accepted a new set of regulations that practically eliminates KATA from September. …
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