For particular tax, accounting and audit questions please contact us. The objective of Doing Business in Hungary 2022 is to provide guidance on the business environment in Hungary for those decision-makers who are interested in engaging in business activity in Hungary. The publication focuses on the general overview, like currency, climate, cost of living, bankink,
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Our Customers Rate Our Corporate Services as Excellent
I am so grateful for the support and excellent results despite hard circumstances! Looking forward to working with you more.
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LVIE International
AccountingBudapest & BSPL (especially Laszlo) helped me to open a KfT in Hungary. Since I am german I didn’t know what had to be done. I coulnd’t ask for better help & support.
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Over 90 Years Experience
We are experts in our field, our team has over 90 years of combined expertise. Take the hassle out of setting up your business, and rest assured that you are backed with the support you need to succeed.
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Doing Business in Hungary 2022
Employment in Hungary by a UK employer
A foreign employer in Hungary faces several questions, like residency, tax registration, employment reporting, and tax payment. What tax and social insurance obligations arise and who pays them if a UK company employs a worker who carries out their job in Hungary? Under the Trade and Cooperation Agreement between the United Kingdom and the European
VAT on sales to Britain after the Brexit
Britain became a third country from VAT perspective From 1 January 2021, Britain became a so-called third country outside the EU in terms of customs, VAT, foreign trade law and statistics. Goods must be placed under an export customs procedure in the European Union. This can be done on behalf of the customer by a
Is company formation in Hungary limited to foreign nationals?
Is company formation in Hungary limited in any way to foreign nationals and are there any differences in the process?
This question may arise in setting up a company for a foreign national in Hungary. What are the primary steps before founding? For example, register for a client portal account, or acquire a tax identification number or a TAJ (health insurance) number? In what form of relationship can you be an executive of the company? Who can be a delivery proxy?
Vat exemption: EU vat number is must from 2020
The most significant change in the EU VAT system in 2020 was the tightening of the conditions for the application of the Community tax exemption with the ‘ must have EU vat number ‘ criteria, and the proof of exportation of a product to another Member State. However, a number of questions have been raised,
Basics of Corporate Income Tax in Hungary
From our article you will learn the basics of corporate tax in Hungary, like what is the tax rate, what expenses are deductible, what rules relate to depreciation, provisions, loss carried forward. Taxpayer All business companies are subject to corporate tax regime, and shall pay corporate tax (“társasági adó” or “TA” or “TAO”) on their
Taxation considerations before company formation in Hungary
Before engaging in a company formation in Hungary we present you this short summary on the taxation of business associations. Should you have any further queries relating to establishing a company in Hungary please feel free to contact us. Corporate and dividend tax The profit of companies is subject to corporate tax. 1. Taxable person of
Company Portal goes live from 1 January
The government’s company portal system goes fully live from 1 January 2019, which may block companies’ tax administration if not arranged. The company portal has been on the table since August 2017, though it might have fallen out of the lights after the National Tax Administration (NTA) confirmed at the end of the last year
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Tax system explained in beer
Change in invoicing rules
We would like to call our clients’ attention to that as from 1 July 2018 the invoicing rules will change in Hungary. Starting from that date paper based invoices will be greatly discouraged by the government. This means that those companies which will continue using paper based invoices will face administrative difficulties. It mainly means that the company
Types of companies in Hungary
When you decide to open a new company in Hungary and enjoy the benefits of the Hungarian economic environment you will probably face the question: what type of company suits me the best? The most popular is opening Kft company – but do you know what are your other options? In this article you will
Company Portal: register your companies
There has been a couple of weeks passed on since the latest administration nuisance: Company Portal registration became available, and we released our first news about. Below we give a more detailed overview of Company Portal administration. What’s it good for? Company Portal is an official storage space available to business organisations. According to the
CEGKAPU: mandatory registration to all companies
Attention: new company administration task to register for company gate by 30 August 2017 – a new legislation suggests. Hungarian legislation lays down requirement for all business organisations to arrange their official affairs through a safe, secure and verified electronic connection with government offices and utility companies. According to new government regulation business organisations shall
Local tax, local business tax
Besides corporate tax there is also another profit based tax in Hungary, the so called local tax. Town municipalities levy and collect local taxes as to contribute to municipality liabilities. While in opposition: corporate tax is collected by central government. There are four main classes of local taxes: local business tax; property tax; tourism tax;