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Payroll-related changes in Hungary, 2021

Every year begins with routine checks and an overview of changes, and the area of payroll is no exception. In January 2021, Hungarian companies and employers need to be aware of changes in payroll-related regulations, including personal income tax, social contribution tax and sick pay.

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Tax changes in 2021 – How to pay tax in 2021

A number of tax changes entered into force in January in terms of NAV online invoicing, VAT, tax planning, corporate tax, personal income tax, small business tax (kiva),fixed-rate tax of low tax-bracket enterprises (kata),social contribution tax and local business tax, and companies have a lot to pay attention to.

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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.

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Small Business Tax Becoming More Attractive - Count With Us!

Small business tax (KIVA) may become an attractive option for more companies from 2021. The small business tax rate may be cut to 11 percent from next year, while certain limits of KIVA-eligibility will increase. The special tax rate assessment rules may be more favourable for many businesses than corporate tax but not for all.

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NAV online invoice report plans – a New Era starts from January

Substantial changes are coming in the NAV online invoice data reporting system with yet another sprint starts for programming and finance experts for the preparation of invoicing programs and data reporting software. The deadline for the conversion to 3.0 XML in January is relatively short but the Hungarian tax authority grants a sanction-free period to taxpayers until April.

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