Hungarian taxation rules are quite strict. If you run a Hungarian company, you need an accountant who is knows the latest updates to regulations and all declaration process changes.
Your accountant is your contact person towards the Hungarian National Tax Authority (“Nemzeti Adó- és Vámhivatal”, or NAV for short). Your accountant will send reports of your income and expenses, including payroll information to NAV on your behalf. However, your accountant can work only with the information you give them, so it is essential you always give your accountant all the information they ask for and on time.
If you have your registered seat with a seat provider (which is comfortable and a common practice, especially if paired with mail forwarding), you have to declare that towards the tax authority. If you fail to do so – and NAV finds this out on their own when they want to contact you – you might be considered a “risky taxpayer”, and even be fined for hindering tax inspection. Make sure your accountant makes the declaration in time!
NAV is becoming more lenient from 2017. If they find a mistake in the tax reports, they let the taxpayer know and give them the chance to submit a self revision instead of starting a tax inspection at once. They also offer assistance to taxpayers to correct the mistake.
Make sure to consult your accountant regularly, as they will be able to tell you if they need more information connected to the regulation or declaration process changes. You can also ask for a consultation with the accounting and finance department of Helpers, where our English-speaking accountant would be more than happy to help you remain compliant with regulations. Call +36-1-317-8570 or send an email to info@helpers.hu.
Find more news on Hungarian tax regulation in 2017.
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