VAT
Imagine that you are at Budapest Airport, waiting at the customs check and about to leave Hungary. As a non-EU resident, you are entitled to value added tax refund after your purchases made in the European Union. However, the conditions are quite complex. The regulation (see the European Commission’s website for more information) focuses on …
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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.
The post 2020 changes to taxation relevant for your Hungarian SME appeared first on HELPERS.
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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When you are buying goods or services in Hungary, their price will most probably contain VAT. However, this VAT may be deducted from the VAT your own company is paying to the Tax Authority.
The post VAT deduction in Hungary appeared first on Helpers Finance.
When you are starting business in Europe, it might not be obvious where you want to set up your company. This short comparison of company formation in Poland, Hungary, Serbia and Albania might be able to set you on the right track.
The post Company formation in Central Europe – Comparing Poland, Hungary, Slovakia and the Czech Republic appeared first on HELPERS.
VAT regulations in Hungary are amended each year to adapt to the changing economical environment. Learn about the 2018 VAT reduction and other new regulations regarding invoices with a high VAT content.
The post How does VAT in Hungary change in 2018? appeared first on HELPERS.
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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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.