Most business owners in Hungary are used to issuing and receiving invoices with value-added tax. When such an invoice is issued, the buyer must pay the gross amount, and later…
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Home office vs. telework in Hungary: rights and obligations
the terms home office and telework are often used interchangeably in Hungary, they refer to different concepts. You should be aware of the difference and the implications for you as…
Make sure to pay the BKIK contribution for 2021
If you have a business in Hungary, you may have received an e-mail from the Budapest Chamber of Commerce (BKIK) about your yearly contribution. This is a fee that all…
Selling services – when to charge VAT?
Whether your services are subject to VAT depends on who your customers are and where they are located. Since the applicable VAT rate also depends on the kind of services…
Development tax benefit for your Hungarian SME
The development tax benefit allows Hungarian SMEs realizing certain investments to decrease their corporate tax by up to 80%. The mechanism is simple: you can reduce your corporate tax by…
Hungary cuts taxes on cryptocurrencies by 50%
The new regulation features a separate section about cryptocurrencies in the act on personal income tax. What remains unchanged is that you only need to pay taxes when you exchange…