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Minimum wage 2023.01.01

2023 Minimum wage Minimum gross wage changes effective from 01.01.2023 2022/573. Government Decree on determining minimum gross wages for 2023 was published on 23 December 2022 in the Hungarian Journal. The following table shows the changes for minimum wage per month (in HUF):   2022 2023 Minimum gross wage 200.000 232.000 Minimum wage for professional […]

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Minimum gross wage changes effective from 01.02.2021

Minimum gross wage changes effective from 01.02.2021 Minimum gross wage changes effective from 01.02.2021 2021/20. Government Decree on determining minimum gross wages for 2021 was published on 28 January 2021 in the Hungarian Journal.   The following table shows the changes for minimum wage per month (in HUF): 01.01.2020-31.01.2021 01.02.2021-31.12. Minimum gross wage 161.000 Ft […]

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Changes on KATA 2021

Changes on KATA 2021 Changes on KATA (Itemized Tax of Small Taxpayer Enterprises) 2021 Act CXLVII of 2012 on Itemized Tax of Small Taxpayer Enterprises (“KATA”) and Small Company Tax (“KIVA”) has major changes effective from January 1, 2021 regarding the tax rate and the rules of procedure for KATA: From 2021 onwards one natural […]

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Changes on local business tax 2021.01

Changes on local business tax 2021.01. Temporary tax relief on Local Business tax for 2021   639/2020 and 640/2020 government decree (published on December 22, 2020) -in order to mitigate the adverse impact of the COVID-19 pandemic on national economy- make the possibility of applying 1% tax rate for local business tax for 2021 where […]

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Online Invoice from January 01. 2021.

Online Invoice from January 01. 2021.   Changes in Online invoice data reporting from January 1, 2021   From July 1, 2020 all outgoing invoices – issued for a domestic tax payer and the location of the fulfilment is Hungary – shall be reported to the Tax Authority.   From January 1, 2021 the reporting […]

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Changes of taxation and reporting deadlines 2020

Changes of taxation and reporting deadlines 2020. Changes in taxation and reporting deadlines, further reliefs – 2020 (Government Decree 140/2020. (April 21.))   Deadline of submission of the statutory financial statements prepared according to the Hungarian Law on Accounting is postponed to September 30, in the cases when the original deadline fell into the period […]

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Newsletter on tax reliefs due COVID-19

Newsletter on tax reliefs due COVID-19   Dear Clients,   The Government of Hungary has announced tax reliefs in order to mitigate the effects of the COVID 19 pandemic in several industries. Businesses in the sectors concerned (tourism, accommodation, entertainment, gambling, film-related services, art activities, trade fair and sport activities) have the following tax reliefs: […]

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Online Invoice 2.0 update

Online Invoice 2.0 update   It will not be obligatory to use the Version 2.0 XSD from 1 st April 2020 Taking into consideration the special circumstances caused by the Coronavirus pandemia and in line with governmental measures and proposals to slow the spread of the pandemic, the National Tax and Customs Administration will not […]

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Online Invoice 2.0

Online Invoice 2.0 Changes in Online invoice data reporting from July 1, 2020 We would like to inform you of the changes in the online invoice data reporting system started on July 1, 2018: previously all the outgoing invoices where the VAT amount was higher than HUF 100,000 had to be reported online to the […]

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Minimum gross wage 01.01.2020

Minimum gross wage 01.01.2020 Minimum gross wage changes effective from 01.01.2020 2019/367. Government Decree on determining minimum gross wages for 2020 was published on 30 December 2019 in the Hungarian Journal. The following table shows the changes for minimum wage per month (in HUF): 2019 2020 Minimum gross wage 149.000 161.000 Guaranteed minimum wage* 195.000 […]

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Ferbal newsletter November 2019

Dear Clients, We would like to inform you about the changes in the tax top-up obligations as at 20 December 2019. Due to amendments in tax laws the top-up of corporate income tax and innovation contribution by 20th December is no longer obligatory, however it is still optional for year 2019 already. Opting in for […]

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Newsletter July 2019

Changes relating to Corporate Income Tax in 2019 Amendments of certain tax laws and other related laws were accepted on July 12. Major changes regarding corporate income tax, local business tax and innovation contribution are as follows: Corporate income tax: a) Obligation of tax advance filling by December 20 is to be cancelled from 2019. […]

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Information on Innovation contribution 2019

Information on Innovation contribution 2019 V5 Changes on Innovation contribution liability, effective from 01.01.2019 Amendments to Act on Scientific research, development and innovation (LXXVI/2014) effective from January 01, 2019 changed again in relation to the classification criteria for companies who are obliged to pay the contribution. This affects those who are among small and micro […]

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Minimum gross wage changes effective from 01.01.2019

Minimum gross wage changes effective from 01.01.2019 Minimum gross wage changes effective from 01.01.2019 2018/324. Government Decree on determining minimum gross wages for 2019 was published on 30 December 2018 in the Hungarian Journal. The following table shows the changes for minimum wage per month (in HUF): 2018 2019 Minimum gross wage 138.000 149.000 Guaranteed […]

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Information on the Online Invoicing System

From July 1, all invoices (when VAT value exceeds 100.000 HUF) shall be reported online to the Hungarian Tax Authority via invoicing softwares automatically or manually uploaded to NAV’s online system. On July 1, NAV announced on its website that those, who failed to fulfil that requirement, BUT registered and reported all the information retrospectively […]

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Online invoice data reporting from July 1, 2018.

Online invoice data reporting from July 1, 2018   We would like to inform you of the main changes of Act CXXVII. of 2007. on VAT effective from July 1, 2018: According to the current rules, corporations has to submit a separate VAT report as an appendix to the regular VAT return to the Tax […]

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Specific VAT reporting 07.01.2018 EN

Specific VAT reporting 07 01 2018 EN Specific VAT reporting rules from July 1, 2018   We would like to inform you about the main changes of VAT rules effective from July 1, 2018: According to the current rules, corporations have to submit a separate VAT report as an appendix to the regular VAT return […]

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PMT-changing

  PMT-EN We would like to inform you that Act LIII. of 2017. on the Prevention of Money Laundering and Terrorism (hereinafter: ‘PMT’) contains new mandatory procedures for accountants. In line with the instructions we are required to record the details of our clients’ final beneficial owner (as a private person). Beneficial owner’s definition by […]

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Newsletter foreign bank accounts 2018 EN

  Newsletter_foreign_bank_accounts_2018_EN Reporting requirements of bank accounts in foreign countries We would like to draw your attention to the amendment of ‘ART’ (rules of Taxation). The most important change that effective from 01/01/2018 all companies have to report all their bank accounts opened abroad to the Hungarian Tax Authority (together with the name of the […]

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Social contribution tax rate changes effective from 01.01.2018

Social contribution tax and ’KIVA’ tax rate changes effective from 01.01.2018 CLVI. Act on the reduction of the social contribution tax and the amendments of related acts was published on 23 November 2017 in the Hungarian Journal. In line with that effective from 01.01.2018: social contribution tax (Szocho), health care levy (EHO), and the simplified […]

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