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Do you work abroad remotely from Hungary? It’s worth now making sure that you’re taxing well!

Nowadays, it is common for Hungarian workers to work abroad as part of an international work schedule. With the coronavirus pandemic though, many workers have returned to Hungary to work remotely. For them, it is definitely worth reviewing the taxes applicable to wages received from abroad. On one hand, they may face a taxation risk if they pay the personal income tax abroad, and the Hungarian personal income tax can be more favourable for them even than the one paid abroad.

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Diána Varga
Tax

Tax benefits related to the corporate income tax

In the second part of our blog series, we discuss the tax benefits available in connection with the corporate income tax. We will highlight common mistakes that may involve risks during a tax audit, so that you can avoid being found to have unlawfully used a tax relief.

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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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VAT return from 1 July: M sheets must also be reported without a threshold in Hungary

From 1 July, 2020 according to the VAT Act, the data of all approved incoming supplier invoices for which the company intends to exercise the right to deduct VAT must be provided to NAV on the M-sheet in the domestic recapitulative statement, regardless of the VAT threshold. This will make not only the invoices issued, but also the invoices approved between companies, fully visible to the tax authority.

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