Client testimonial

With Helpers, I was able to make sure that my company is up to par with Hungarian and EU standards. Their solid advice will help you make sound business decisions.

RYAN ANDRES ERRL Enterprises / Barako Coffee House

Blog/News

Fastest incorporation in Europe

When you have a business idea you want to make reality, you don’t want to waste time with unnecessary administration. Hungary offers the fastest company incorporation procedure in Europe. Have your company incorporated in just a few days Founding a lim …

What documents are required for company formation in Hungary?

Your passport is the only document you need to bring. For nationals of many European countries, an ID card might be enough. However, be sure to check with us in advance if this applies to you.

Useful Tips

HELPERS prices are all-inclusive – we don’t charge extra for initial paperwork when forming a company, regular tax audits or preparing the company’s yearly report, contrary to the practice of many other firms.

Accounting and finance services in Hungary

When you are doing business in a foreign country, it is especially important to have a clear understanding of taxation and financial regulations as well as professionals keeping your books – this way you can keep your company compliant, avoid any unpleasant fines or difficulties, and ensure that your money gets budgeted and spent in the optimal way.

Find an accountant

In Hungary, all companies must submit regular accounting reports (in Hungarian) from the date of their incorporation. We are aware that some countries are more flexible or lenient in this regard, so we would like to ensure that our clients are aware of their obligations when setting up a company in this country, and can (with our assistance) run a compliant operation. We have compiled a fact sheet  about taxation and other regulations; we hope you will find it informative.

Please note that if you are also applying for or currently holding a resident permit in Hungary, it is crucial that you keep your company’s books in order at all times, as these are checked by the immigration authority.

Business accounting

We provide accounting and financial services including bookkeeping, payroll, financial controlling, profit and loss calculations, cash flow projections and many more. All of our services focus on small and medium-size, foreigner-owned businesses. This specialization, in combination with related areas of our activity (like business planning, incorporation, residency and work permits) yields a unique pool of knowledge and experience that no other service provider in Hungary can boast. Working with a senior accountant, junior colleagues, and – when needed – external specialists like VAT or customs experts, we are able to cover all your accounting needs in one place.

Please check out our fact sheet here

Pricing

Accounting rates are based on your company’s business activity and volume, although all our packages include the work of an English-speaking, certified accountant, representation at the tax authority in case of inspections, and liability insurance to cover potential accounting errors. Some activities may be considered high-risk and incur higher accounting fees. At the same time, we do our best to offer cost effective solutions to clients and will be happy to work with your staff to share the workload in an optimal way. Here are some basic price categories:

Inactive package (size “XS”) – paid quarterly: EUR 100/month, i.e., EUR 300/quarter (+VAT if applicable)

Active packages (size “S” through “XL”) – paid quarterly: starting from EUR 160/month, i.e. EUR 480/quarter (+VAT if applicable)

The minimum payment term is 3 months in advance. We offer discounts for pre-payment of 6 or 12 months’ service.

Please click here to download our full price list or contact us for a consultation and to receive a tailored quote!

FAQs
  • submitting invoices and bank statements to the accountant: 5th of each month
  • reporting sick leaves, salaries or bonuses: 1st of each month
  • reporting any changes in the company’s operations (changes in ownership, owner’s or director’s personal data, bank accounts, activity, employees, etc.): within 5 working days
  • fiscal year closing / annual reports due: May 31st for the previous fiscal year
  • VAT declarations and payments: on the 20th of each month, for the preceding month or quarter (depending on how often the company declares VAT)
  • payroll taxes & social contributions: on the 12th of each month, for the preceding month
  • corporate tax advances: paid quarterly on the 20th of July, October, January and April, in 4 equal installments, calculated on the basis of the previous closed fiscal year
  • local business tax advance: paid twice a year (15th March and September)

The basic Hungarian business taxes are the following:

  • local business tax: 2% on net revenues (meaning: your income minus any direct costs such as cost of goods or services that are re-sold)
  • corporate tax (also known as profit tax): 9%; applies to profits after the deduction of all expenses including direct and general expenses
  • dividend tax: he company’s profit after tax can be either saved for future activities or paid out to shareholders as dividend; in Hungary, dividend tax is 15% and there is an additional 14% health insurance contribution payable which is maximized in HUF 450,000 – however, this only applies to Hungarian residents; in the case of non-local residents, specific bilateral agreements between Hungary and your country of residence may apply.
  • VAT (value added tax, or also known as sales tax in some countries) is 27%; whenever you buy something in a shop for example, it is always already added to the price you see. You will charge VAT only towards individual (retail) buyers or corporate EU-based buyers who are not registered for VAT, meaning that if you are an international trader, you may not charge VAT at all.

VAT is value added tax, also known as sales tax in some countries. In Hungary, VAT is 27%, and whenever you buy something in a shop for example, it is always already added to the price you see, so you do not have to start counting each time how much something will cost. When you start your company in Hungary (which will immediately receive an EU VAT number as well), and issue your own invoices towards your clients, you will charge VAT only towards individual (retail) buyers or corporate EU-based buyers who are not registered for VAT. However, if you are an international trader, you may not charge VAT at all.

Invoices to buyers/clients can only be issued through a licensed invoicing software (recommended) or an official ’invoice booklet’ (not very convenient). Invoices issued in Excel, foreign invoicing programs or other means are not acceptable in Hungary. We strongly recommend that you purchase a license for the invoicing software (license fee: approx. EUR 140/year) and learn to use this program through our assistance. This way, you’ll be able to issue invoices in Hungarian and English, in full compliance with the local regulations, and even in PDF format if you wish.

In Hungary, all companies must submit regular accounting reports (in Hungarian) from the date of their incorporation. We are aware that some countries are more flexible or lenient in this regard, so we would like to ensure that our clients are aware of their obligations when setting up a company in this country, and can (with our assistance) run a compliant operation.

Contact Us

HELPERS specializes in working with foreign business owners and investors even when it comes to accountancy and financial services.

Send Us a Message

Ask for a Quote

Let us know about your company’s planned activities and objectives, and ask for free consultation and a tailored quote!

Please fill in the form
© 2004 – 2016 HELPERS HUNGARY KFT BUDA BUSINESS CENTER, 1027 BUDAPEST, KAPÁS U. 11-15.