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HUNGARY – Small Business Tax 2019

The companies fulfilling the conditions or newly formed companies and branch of foreign companies are also able to choose this special taxpayer status since y2013. The tax rate of the small business tax (SBT) is 16% in y2016, 14% in y2017 and will 13% from y2018, the minimum tax base is the annual labor cost […]

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EUID and BRIS – new EU-wide inventory tools for business companies

The European Union has introduced two new instruments for certain types of companies that make it easier to obtain information and keep track of information at EU level for any individual in each Member State. What is the EUID? The EUID (European Unique Identifier), is a complex identifier code, which allows companies and their branches […]

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TAX CHANGES 2019 : 5.9% interest on late payments

The interest rate on late tax payments is twice of the central bank base rate (0,9%), which is currently only 1.8%. The interest rate is determined by the legislator in the latest bill on tax changes of 5.9 percent. The default interest rate for taxpayers classified as risky will be 8.85 percent from 2019.

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HUNGARY | Changes in the procedures of voluntary dissolution of companies

Some significant changes will come from 01.07.2018 due to the modification of Act V. of 2016 (Ctv.) on voluntary dissolution.The new regulations should be applied for the processes started after 1st of July. According to the actual regulations, simplified voluntary dissolution could be chosen only by general partnership (Bt.), limited partnership (Kkt.) or sole proprietorship. […]

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HUNGARY | Mid-year tax updates 2017/2018

Personal Income Tax Based on the rules valid from 2018, the employer can provide a total of 5 years of tax-exempt housing allowance for a worker whose residence is at least 60 kilometers away from the workplace or travels for three hours or more. In the first 24 months of employment, allowance may be 60 percent […]

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Public holidays in Hungary in 2017

March 15, 2017, National Day April 14, 2017, Good Friday April 17, 2017, Easter Monday May 1, 2017, Labour Day June 5, 2017, Pentecost August 20, 2017, St. Stephen’s Day October 23, 2017, Repiblic Day November 1, 2017, All Saints Day December 24, 2017, Christmas Eve December 25-26, 2017, Christmas Days January 1, 2018, New […]

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HUNGARY | Update of Value Added Tax 2017

Several VAT rates are used: it has been long overdue in the case of food, the reduction of VAT in hospitality has not really been thought out in detail, and the reduced VAT rate of the Internet is rather a political will than an economic decision. The reporting obligation concerning online billing is significantly tightened […]

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HUNGARY | Update of personal income tax 2017

The personal income tax has been amended on several points during the year as well. In the following part we present those changes in SZJA, KATA and EHO (health care contribution) that are considered the most important and have taken effect since 16 June 2016 or will take effect from 1 January 2017. SZJA (personal […]

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