It is a fact, and it cannot be avoided. Cloud-based human – resources management systems like Workday are here to stay. Therefore, there is a high probability that you as a HR manager will need…
The right time to change the current payroll provider may depend on various elements like overall HR/financial performance indicators, HR/ financial company strategic imperatives or operational risks. There are two distinct situations when to consider…
The right time to change the current payroll provider may depend on various elements like overall HR/financial performance indicators, HR/ financial company strategic imperatives or operational risks. There are two distinct situations when to consider…
Hereby we would like to inform you that the rules related to the reimbursement of expenses for commuting to work have been modified from 28th January 2023. In the case of daily commuting to work…
According to the announcement of the Hungarian Tax Authority (NAV) the amount of the health service contribution will be HUF 9600 per month and HUF 320 per day, from 1 January 2023, which is a…
A new Government Decree, published on 6th October 2022 under the number of 381/2022, includes amendments of the preferential use of the SZÉP card. Previously, it was possible to use the amounts on the SZÉP…
Minimum wage As of 1st January 2022, the minimum wage will be gross HUF 200 000, the guaranteed minimum wage will be gross HUF 260 000 for full-time employees, to be applied for the first…
According to the Hungarian government order nr. 639/2020 (issued in December) the local business tax payable by small and mid-sized companies may be decreased by 50% in 2021 due to the coronavirus pandemic. In our…
Statutory accounting and tax rule differences in Europe might cause a real challenge to companies during their ERP (Enterprise Resource Planning) system implementation and localization projects. When an international company extends its business abroad and…
The first is that a taxpayer having an affiliated company must examine is whether, on the basis of its main indicators, the preparation of a transfer document is required, or it is sufficient only to…
In this article, we have collected major tax law changes in a nutshell on the basis of the summer and autumn 2020 tax packages. Take a look at the new rules below. Personal income tax…
Legislative proposal no. T/13258. on the amendment of certain tax laws was submitted on 13 October 2020. In our customer briefing, we summarize the most important expected changes of the ‘fall tax package’. Personal income…
5 things you need to know about the sale of real estate holding companies in Hungary: 1. Duty payment liability must be calculated by topographical numbers in Hungary, therefore there is a chance that the…
Sale of shares of foreign-registered companies in Hungarian entities may trigger local tax liabilities if the real estate possessions are significant. Such transactions may generate Hungarian local duty and corporate income tax (“CIT”) payment obligations.…
The grace period granted for the application of the online invoice reporting’s new rules (version 2.0) expires on the 30th of September, 2020. Starting from this date the Hungarian Tax Authority can levy a penalty…
Property management related accurate financial reports, statements, complex reconciliations in one hand? All of these from financial experts specialized in this specific area? Would it be possible? Yes. Let me tell you how. First of…
Although the initial panic caused by the virus is starting to subside, for company leaders the hard part is yet to come. Considering the experiences of the last 2 months, the possibilities of the company,…
To mitigate the economic effects of the coronavirus pandemic, Government Decree 170/2020 was issued to reduce the corporate tax limits on investments. The decree modifies the Corporate Income Tax Law in order to urge investments.…
New decrees of the Hungarian Government have been published on the 21st of April 2020 including further measurements to eliminate economic damages of coronavirus. The orders contain among others the postponement of different tax returns…
New protection measurements have been published to support those companies which are in a difficult situation due to the coronavirus. In order to preserve existing jobs, several new subsidies will be introduced, giving companies the…
