Summary 36 posts
In relation to the fiscal year of 2021, LBT reliefs are applicable for SMEs if their revenue or balance sheet do not exceed HUF 4 billion. Except for the 3.000 largest firms, every company is affected; the claims shall be submitted until 25 of February to the Hungarian Tax Authority.
Read moreSmall 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.
Read moreDraft VAT returns, changes to small business tax thresholds, local business tax administration change, and automatic payment assistance for reliable taxpayers and private individuals. The autumn tax package may bring changes to a wide variety of areas in Hungarian taxation.
Read moreNext year, employers and employees we will only have to plan with one moved working day. The first long weekend of 2021 will fall on the start of the year, 5 rest days will be on weekends and, in addition, we will have six long weekends and a 4-day weekend in the coming year.
Read moreProvisions of the Act on the Rules of Taxation relating to the Hungarian Electronic Trade and Transport Control (EKAER) system will be amended from 1 January 2021. For example, the group of products to be reported in the road freight transport control system will change.
Read moreAs part of the COVID-19 Economic Protection Action Plan, the Hungarian government has launched a new wage subsidy programme now to enhance job creation. Its main purpose is to provide help in recruitment for employers who have been forced to lay off workers in recent months due to the economic impact of the coronavirus.
Read moreAfter a seemingly long wait for professionals, the decree was promulgated postponing the annual tax liabilities of companies and the publication of the report in view of the coronavirus epidemic until 30 September 2020. It is worth considering what is affected by the postponement and what is the best decision for the company!
Read more12 October is also the deadline for social security contribution and social contribution tax return filing and payment for foreign enterprises not having the obligation to register in Hungary.
Read moreDuring the spring season the Parliament accepted Act LXVI of 2016 covering personal income tax (PIT) changes, which also substantially and fundamentally amends at several points fringe benefits giving the backbone of cafeteria systems. The changes may force companies to rethink their cafeteria systems. We wish to help in this process with this post.
Read moreA recent amendment of the relevant tax legislation (published on the 27th of June) has introduced an additional payment liability. Taxpayers include marketing licensees of medical products or their distributors.
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