Category: Accounting and Finance

Minimum wage and Payroll taxes in Hungary 2019

Salaries and Payroll Taxes in 2019, Hungary

Monday, 7 January, 2019

Hungarian payroll taxes and salaries were modified the end of December, but they are already valid for January. Following the same trend as last year, the minimum wage has been increased, while the employer’s payroll taxes remained the same.

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Terminating employment in Hungary

Checklist for terminating employment in Hungary

Wednesday, 23 May, 2018

If you operate a company, sooner or later you will need employees. We have already wrote about what to keep in mind when making a new hire – now let’s see the various scenarios for terminating employment.

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Currency for your Hungarian company

Why to have a bank account for each currency you do trade in?

Thursday, 12 April, 2018

If you have a Hungarian company, you probably have at least two or three bank accounts. But why exactly do you need them? Company bank accounts defined by currency The most important feature of a bank account is its currency. Nothing is simpler than re …

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Set up company bank accounts in Hungary

How many company bank accounts do I need in Hungary?

Monday, 12 February, 2018

Depending on the nature of their business, we usually suggest that our clients open 2 or 3 bank accounts for their Hungarian companies at a local bank: HUF, EUR, and USD, different currencies for partners from different markets.

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2018 changes to VAT Hungary

How does VAT in Hungary change in 2018?

Thursday, 18 January, 2018

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.

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Changes to personal income tax in Hungary 2018

How does the Hungarian personal income tax change in 2018?

Thursday, 18 January, 2018

If your company has employees, your company deducts the personal income tax from their gross salaries (together with the social contributions). This way employees only get their net salaries, and you transfer their personal income tax to the Tax Authority.

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Changes to corporate tax in Hungary 2018

Corporate tax Hungary 2018

Thursday, 18 January, 2018

Corporate tax in Hungary is still 9%, which is the lowest in the EU. This, with the simple and fast incorporation procedure makes Hungary an ideal place so set up your first EU company and start trading in Europe. See the latest allowances and reductions you can apply for.

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Changes to salaries and payroll taxes 2018 Hungary

Salaries and Payroll Taxes in 2018, Hungary

Tuesday, 16 January, 2018

In 2018 again, Hungarian payroll taxes and salaries have been modified to meet the new conditions of the changing world. Just like last year, the minimum wage has been increased, while the employer’s payroll taxes decreased.

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2018 changes to fringe benefits in Hungary

2018 changes to fringe benefits in Hungary

Monday, 15 January, 2018

Offering fringe benefits can make your company a more attractive work place for professionals, while it also helps you cut costs on taxes and contributions. In light of the latest developments, you might want to change the cafeteria plan you offer to your employees.

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Let your account know about foreign company bank accounts

Foreign bank accounts for your Hungarian company

Thursday, 11 January, 2018

Your accountant should know about all bank accounts you have registered with your Hungarian company, regardless whether it is at a Hungarian or a foreign bank. Check your records, and make sure your accountant knows about all your company bank accounts.

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