Depending on the nature of their business, we usually suggest that our clients open 2 or 3 company bank accounts for their Hungarian companies at a local bank:
Whenever your Hungarian company sells something, the payment should be wired to your Hungarian bank account. (Of course, if it is a cash payment, your income should be put in the cash register.)
With each sale, you specify a price in a given currency. On your invoice, you should indicate the bank account number managing that currency.
E.g.: If you sell a chair to a Slovak buyer, you will probably agree on a price in EUR. Then you should indicate this EUR price and your EUR company bank account number on your invoice, so you receive it on your EUR company bank account.
As your bank account number is part of your company ID data, authorities expect you to pay taxes and contributions from your company’s HUF bank account.
E.g.: You cannot pay corporate tax defined in HUF neither from your USD bank account nor your personal HUF bank account. It should be paid from your company’s HUF bank account.
If you have Hungarian employees, you are supposed to pay their salaries in HUF as well. To keep your books transparent, this should also be done from your company’s HUF bank account.
Please note that all the above information refers to your Hungarian company’s bank accounts, not your personal bank accounts in Hungary. All transactions relevant to your Hungarian company (salaries, taxes, contributions, revenues) must go through your Hungarian company bank accounts. This is how you can keep the operation of your Hungarian company transparent and thus compliant with Hungarian regulations.
Learn more about why you need a bank account for each currency you trade in here.
تماس با ما
Tax returns season is starting soon in Hungary. Drafts created by the Tax Authority become available next week; the deadline for submission is 21 May 2024.
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This year, the minimum wage was increased by 15%, while the guaranteed minimum salary by 10%. No changes were made to payroll taxes in 2024, but there have been some changes to the SZÉP Card.
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