Thursday, 8 December, 2016
A properly issued invoice is essential for keeping your company compliant. Without it, you might be faced with being charged extra hours for accountancy, tax audits and even fines.
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A properly issued invoice is essential for keeping your company compliant. Without it, you might be faced with being charged extra hours for accountancy, tax audits and even fines. In many European countries, invoices can be issued by Word or Excel. Ho
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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.
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The rules and regulations on issuing an invoice set by the Hungarian Tax Office are stricter than in many European countries. Keeping the following points in mind, you’ll be able to easily conform to the regulations and avoid Tax Office fines. Basic da
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If you buy supplies or equipment that you need for your company’s operation in Hungary, you can write these off as company-related expenses, which decreas the company tax you have to pay at the end of the fiscal year. But be careful: to be able to do t
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Thursday, 8 December, 2016
Dividend is a payment made to the company’s owners from the profit after taxation and free accumulated profit reserves. This also means that if a company did not produce profit, it cannot pay a dividend.
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Thursday, 8 December, 2016
Employees are entitled to wage supplements when they work overtime, on weekends, at night or on state holidays. As the employer, it is your legal responsibility to determine your employee’s schedules, so you need to take the mandatory wage supplements into account when doing so.
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Last updated on 22 February 2024. Keeping your Hungarian company compliant starts with submitting all reports and accounting documents on time, paying taxes, contributions and salaries when they are due and ensuring all contracts and invoices conform t
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Thursday, 8 December, 2016
Hungary has a number of state holidays when shops and offices are closed, and employees are usually not required to work. In addition, Hungarian Labor Law states that all employees are entitled to a minimum of 20 days of paid vacation per year.
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In most of Europe, the local official language is used by the Tax Authority, government and municipality offices, in banks, in contracts and in everyday life. Hungary is no exception: most letters a business owner has to read and most forms they have t
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