Category: Accounting and Finance

Duty-free shopping and VAT refund in Hungary

Duty-free shopping and VAT refund in Hungary

Wednesday, 31 August, 2022

Non-EU residents visiting the EU have the option to avoid paying VAT on their purchases in Hungary. This is possible either by shopping duty-free at an airport, or by making purchases at regular stores and reclaiming VAT upon leaving the EU.

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U.S. cancels double taxation treaty with Hungary

U.S. cancels double taxation treaty with Hungary

Thursday, 28 July, 2022

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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SZÉP card in Hungary in 2022

SZÉP card in Hungary in 2022

Wednesday, 20 July, 2022

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.

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KATA changes introduced in the middle of the year

KATA changes introduced in the middle of the year

Wednesday, 13 July, 2022

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.

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Vacation in Hungary

Vacation in Hungary from the employer’s point of view

Thursday, 9 June, 2022

Summer is here, and most people choose this season to go on a vacation in Hungary. But how do summer leaves work at a Hungarian company? Read on to find out.

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banking in Hungary

Banking in Hungary

Friday, 1 April, 2022

These days, banking is made simple through online platforms and mobile phone apps. But how exactly does money transfer work in Hungary? What is IBAN, SWIFT, and OBA?

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Salaries and payroll taxes in Hungary in 2022

Salaries and payroll taxes in 2022, Hungary

Thursday, 6 January, 2022

The minimum wage has been raised to HUF 200,000 gross, while the social contribution tax has been reduced to 13%. At the same time, personal income tax for persons younger than 25 has been abolished.

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Business gifts in Hungary

Business gifts in Hungary

Wednesday, 22 September, 2021

They say it is better to give than to receive. It is certainly nice to present your business partners with something nice, but what written and unwritten rules pertain to business gifts in Hungary? Let’s find out the basics.

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Changes to taxation in Hungary 2022

Changes to taxation in Hungary in 2021 and 2022

Monday, 2 August, 2021

Taxes in Hungary are adjusted every year, and the Parliament has recently decided about the next changes to taxation. Some of them will affect your business in Hungary – find out how!

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payroll taxes in 2021

Salaries and payroll taxes in 2021, Hungary

Monday, 1 February, 2021

As of 1 February 2021, the minimum wage is raised to gross HUF 167,400, and the guaranteed minimum salary to gross HUF 219,000. Learn how this affects your company costs.

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