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. 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.
Read MoreThursday, 8 December, 2016
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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Wednesday, 23 November, 2016
Authorities let companies reduce payroll taxes if they employ workforce who have difficulties entering the labor market. Members of the listed groups may prove as eager, skilled, and earnest employees as anyone else, while employing them grants you significant payroll tax relief.
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Friday, 12 August, 2016
If you operate a Hungarian company, you will want to be aware of certain accounting deadlines when you should pay taxes and contributions. Your accountant will always remind you when a payment is due.
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Wednesday, 3 August, 2016
In Hungary, spending company money is strictly regulated. If you buy things for your company, you simply need an invoice. If you want to buy things for yourself, you take salary or dividend. Let us show you the basics.
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