The Hungarian minimum wage has just been increased with ca. 15% for 2023, which will affect not only payroll costs, but also various other tax items tied to the minimum…
Tag: Salaries
EKHO, the simplified tax for creative professions
EKHO is short for Simplified Tax and Contribution (“Egyszerűsített Közteherviselési Hozzájárulás”) in Hungary. It is a favorable tax regime aimed at creators in various fields intended to promote Hungarian culture.…
KATA alternatives for limited partnerships: TAO, KIVA, EKHO
While flat-rate taxation is a cost-effective alternative for self-employed KATA orphans from September, it is not available for limited partnerships. Instead, they may consider whether TAO, KIVA and/or EKHO are…
What is happening to the Hungarian HUF bank accounts of Revolut?
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…
Changes to taxation in Hungary in 2022
We have already written about most changes to taxation in Hungary 2022 – most of which are tied to the ongoing pandemic and the government’s efforts to increase the purchase…
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…