To do business in Hungary, you will most likely need a Hungarian VAT number. This number is used for invoicing and taxation purposes: to put it simply, it is what…
Category: Accountancy
KIVA: a small tax for small businesses in Hungary
KIVA is a tax for small businesses in Hungary. As opposed to running an LLC and paying the “regular” taxes (9% corporate tax and various other taxes, especially on payroll),…
How to suspend freelancing under KATA
Other than a popular given name among the ladies, KATA is also an important term when it comes to freelancing in Hungary: it is a special form of taxation for…
Minimum wage in Hungary increases
The recent changes to regulations have increased the minimum wage in Hungary by 4%. The guaranteed minimum salary, another type of minimum pay, has also grown by the same amount.…
Changes to payroll taxes as of 1 July 2020
There have already been several tax related changes this year, and now here are the most relevant changes for employers and employees taking effect on 1 July 2020. Reduced social…
Changes to invoicing obligations in Hungary from 1 July 2020
As of 1 July 2020, the obligations related to invoices issued by your Hungarian company will change in order to make the economy more transparent. Certain invoices must be reported…