Despite recent rumors, Revolut is not moving out of Hungary. However, Revolut’s Hungarian HUF bank account is being cancelled as of 1 April 2022, which is most relevant for employers…
Category: HR
Personal income tax waived for those under 25 in Hungary
Starting from 2022, people under 25 do not pay personal income tax in Hungary. The new regulation aims at making the employment of young people more attractive to employers, while…
How to carry over vacation days to the next year
In Hungary, employees are entitled to at least 20 vacation days each year. This is a paid leave, and it is the employer’s responsibility to ensure that their employees actually…
Social contribution tax decrease in Hungary
Alongside the next increase to the minimum wage just announced for 2022, social contribution tax will be decreased to even out the financial burden on employers. This way minimum wage…
Minimum wage in Hungary in 2022
Last week the new minimum wages were announced. This affects not only employees earning minimum wage or receiving benefits that are calculated based on that, but also the employers who…
Personal income tax refund for families in 2022
The personal income tax refund for families, first floated in June, has recently been finalized. Anyone raising children in Hungary can expect a refund on their personal income tax paid…