Substantial changes await Hungarian taxable persons yet again. The changes concerning the NAV online invoice data reporting system effective from 2021 will extend the invoice reporting obligation to almost all transactions of every Hungarian company.
In its regulations issued in November, the Government provides new subsidies to help the sectors most affected by the emergency. Some of the measures are the same as in spring in a repackaged form, while accommodation providers may request targeted subsidies under certain conditions.
The state of emergency introduced due to the second wave of the coronavirus pandemic urged to make the rules of remote work clear or at least make it more flexible. One of the newest decrees of the government aims at filling this void now.
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.