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Lilla Németh

NAV Online Invoice Data Supply - Changes in Schema 3.0

The tax authority published some unexpected information: the NAV Online Invoice schema, which will be introduced on 1 January 2021, changed at a number of points on 1 December. The data supply system is still being updated, the developer documentation and the xml examples have also been updated.


Edina Pentz

Update! Minimum Wage and Guaranteed Minimum Wage in 2024

The amounts for the minimum wage and guaranteed minimum wage for 2024 have been determined and announced. For 2024, a 15% increase in the minimum wage and a 10% increase in the guaranteed minimum wage should be planned for employees working full-time. The increase in the minimum wage and the guaranteed minimum wage can take effect from December 1, 2023.

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Mátyás Budai
Petra Palicz

The Mandatory Deposit Return System (DRS) and VAT

From January 1, 2024, the deposit return system for mandatory deposit fee products marketed domestically, the DRS, will be implemented. The mandatory deposit fee system imposes tasks on both manufacturers and distributors, and due to the introduction of the DRS, the summer tax package also amended the VAT law effective from January 1, 2024. In the following blog post, we will present the most important VAT-related effects of the new DRS system.

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Key rules for IFRS transition – who are affected?

In Hungary, all listed companies, credit institutions and financial enterprises equivalent to credit institutions are required to prepare their annual financial statements in accordance with IFRS. In addition, certain companies have the option to prepare their annual financial statements in accordance with IFRS. The rules for the first-time adoption of IFRS are complex, and we will go through the details in our blog post below.

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