Thursday, 14 May 2020

Retailer surtax based on last year’s turnover!? Is there a solution?


The Hungarian Gazette of Tuesday, 14 April 2020 published a decree on the surtax of retail industry. The surtax may result in a significant overtaxation due to the fact that the basis of the advance payment liability is the turnover data of the previous business year based on the decree. Practically, this is the update of the former Hungarian act of 2010 on sector-specific taxes as both the object and the tax rate are the same as in the old act.


Friday, 24 April 2020

Financial measures related to Covid-19

There are several financial measures in order to ease the financial situation of the population and companies.


Tuesday, 21 April 2020

Relief in tax administration

In addition to reducing costs for companies, facilitations in ​​tax administration have also been introduced.


Monday, 20 April 2020

State support to salaries

If the wages of employees working in shorter time are supplemented by the state, workers will get better out of their revenues while companies can retain their employees.


Friday, 17 April 2020

Tuesday, 14 April 2020

Rules related parenting


Due to the coronavirus epidemic, special rules have been introduced to alleviate the situation of parents raising children.


Monday, 6 April 2020

Flexible labour law provisions


As part of the protection package, the rules of working time banking become even more flexible.

Wednesday, 1 April 2020

Tuesday, 31 March 2020

Covid-19 - Economy protection

In view of the emergency situation introduced on 11 March 2020, the Government announced another economic protection package on 23 March 2020 by which the following measures were introduced from the next day in Hungary.



Saturday, 28 March 2020

Covid-19 - Stay at home order

In view of the emergency situation introduced on the 11th of March 2020, the Government has announced on the 27th of March 2020 another protection action plan as restrict to leave homes. According to the new protection plan the following measures took effect as of the 28th of March 2020.


Wednesday, 18 March 2020

Covid-19 – Economical and taxation impacts of Hungarian official measures

By March 18, the government had taken a number of measures to protect jobs and the economy, even the most of the provisions of the action plan are limited to a defined group of businesses. However, companies that may have difficulties with their tax obligations due to cash flow problems, according to the general rules may apply to the Hungarian Tax Authority for a payment facility (deferred payment or instalment payment). In addition, it is possible to request the reduction of the tax advance obligations as well. In both cases, LeitnerLeitner's experts are available for the administration process.



Extraordinary legal order in Hungary

Responding to the business situation caused by COVID-19 Hungary currently has an extraordinary legal order, which even allows for immediate legislation in view of the emergency was introduced on 11 March, 2020 by the Government.


Tuesday, 17 March 2020

Our function is uninterrupted during the epidemic but it is carried out in safe isolation

LeitnerLeitner is aware of the seriousness of the situation in our community triggered by CoV. Ahead of these developments, we have early prepared a plan of actions, which is effective as of 13th of March. The essence of these measures that our colleagues work in home office.




REGISTRATION OF ROAD TRAFFIC IN HUNGARY (EKAER)

In this guideline, we would like to call your attention to a tax administrative amendment as of 2015 by the Hungarian tax legislation, which have significant effect on the movement of goods at Hungarian established or VAT registered businesses.









Monday, 16 March 2020

VAT COMPLIANCE RULES IN HUNGARY

The present guideline provides you with a brief summary of the Hungarian VAT compliance rules, informing you about the Hungarian VAT registration and VAT return obligations.

LeitnerLeitner offers assistance in the VAT registration and provides full-scope assistance for the forthcoming VAT compliance:
  • VAT registration
  • Preparing and filing of VAT returns, sales listings, Intrastat
  • Advisory for invoicing and registration of invoicing programmes
  • Tax audit assistance
  • Representation in front of the tax authority.








Thursday, 27 February 2020

TAXATION OF EMPLOYMENT IN HUNGARY

In the following guideline we will provide detailed information about the taxation of employment in Hungary. If you are considering doing business in Hungary, or you need a reliable partner in tax advisory, accounting, payroll or auditing, don't hesitate to contact us! We are dedicated to help our clients with our high quality, tailored services to find the best economic solutions.










Tuesday, 25 February 2020

VALUE ADDED TAX IN HUNGARY

Value added tax for entities is a pure transitory item. Nevertheless, non-deductible pre-tax, falsely assessed VAT and penalties deriving from administrative mistakes can heavily burden the entities’ budget, especially in a country with the highest VAT rates within the European Union. In the following guideline we will introduce the main principles of the Value Added Tax in Hungary.

Although the VAT legislation is generally harmonized in all the EU Member States, it is advisable to have a general overview of the VAT system of each country of business for the entities engaged in international transactions. Beneath we provide you with a summary of the Hungarian VAT system as part one of our articles dealing with Hungarian value added taxation (in the second article you may get further information about the Hungarian VAT registration and VAT compliance rules).












SECTOR RELATED TAXATION AND OTHER DUTIES OF BUSINESSES IN HUNGARY

Hungary applies numerous other business related taxes such as sectoral taxes or surtaxes, local taxes, duties, environmental and health care taxes. This guideline provides for a short summary of them. Keep in mind, that taxation in Hungary is a swiftly and often changing area, especially in the category of smaller, sector related taxes. We highly recommend hiring professional tax advisors in order to meet the expectations of the tax authority and avoid charges. Please contact us for more information!