Like every year, minimum wages have recently been adjusted to offset the impact of inflation. The minimum wage was increased by ca. 15%, and the guaranteed minimum salary by ca.…
Tag: Salaries
Minimum wage in Hungary in 2024
The Hungarian government has announced the minimum wage and the guaranteed minimum salary for 2024. The gross minimum wage will increase by 15%, and the guaranteed minimum salary by 10%.…
Minimum wage in Hungary in 2023
Last updated on 11 October 2023. The Hungarian minimum wage has just been increased with ca. 15% for 2023, which will affect not only payroll costs, but also various other…
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…