Summary 407 posts
The year 2025 introduces numerous changes in value added tax (VAT) regulations in Hungary. Below are the key amendments businesses should be aware of pertaining to VAT.
Read moreNext year, the SZÉP card will become even more attractive: The maximum benefit limit will be increased by HUF 120,000; a new sub-account (‘pocket’) will be added to support sports and an active lifestyle; and the card will also be digitised. In addition, 50% of the budget can be used for house renovation purposes. In our RSM blog, we have summarized the expected changes to the SZÉP card starting in 2025.
Read moreSignificant changes will take effect in Hungary\'s electronic administration system starting 16 January 2025: the current form of the Client Gate (Ügyfélkapu) will be discontinued. In the future, users will have two alternative solutions to choose from: the Client Gate+ (Ügyfélkapu+) and the DÁP (Digital Citizenship Program) mobile application, offering new options for online administration. Both individuals and businesses must consider in advance how they will authenticate themselves when accessing state-provided electronic services in the future — whether through the Client Gate+ or the DÁP.
Read moreThe amounts for the minimum wage and guaranteed minimum wage for 2025 have been published in Issue 127 of the Hungarian Gazette and officially announced. In 2025, employers should plan for a 9% increase in the minimum wage and a 7% increase in the guaranteed minimum wage for full-time employees. The wage increases will take effect from January 1, 2025.
Read moreStarting from the summer of 2025, employers must prepare for a new penalty that will affect procedures aimed at clarifying insured employment relationships. The new legislation aims to ensure compliance with employment and reporting obligations and increase the accuracy of reporting processes. The new rules provide for severe penalties depending on the seriousness of the offence.
Read moreThe Hungarian tax authority is constantly improving its control methods to ensure transparency and compliance of economic operators, and the data reconciliation procedure is a new step in this direction. The main purpose of the data reconciliation procedure is that the HUTA regularly compares the data from the real-time invoice reporting system with the information on the VAT returns submitted by companies.
Read moreAs part of the transfer pricing related tasks, the obligation to file a country-by-country report (CbCR) and notification to the tax authority must be fulfilled by 31 December 2024 for fiscal years corresponding to the calendar year.
Read moreBased on the the Act on Global minimum tax legislation (GloBE legislation) effective as of January 1 2024, taxpayers with a tax year following the calendar year, which fall under the scope of the legislation, would be required to provide information on their GloBE status to the Tax Authority by December 31 2024. Even 2,000 companies may fall under the global minimum tax reporting obligation. It may affect business groups which only have Hungarian members, as well as those which also have foreign members. Anyone concerned missing the reporting deadline may face a fine amounting to millions.
Read moreBill no. T/9724 on amendments to certain tax laws, which also contains a number of significant changes affecting companies, was brought before the Hungarian Parliament on 29 October. One of the main goals of the proposal is to simplify the tax system and whiten the economy, particularly in the areas of corporate income tax, VAT and retail tax. The draft legislation would transpose many government decrees adopted during the state of emergency into law. Our blog below contains the most important changes in detail so that your company will be prepared for the new rules coming into force in 2025.
Read moreWhen a foreign company carries out transactions in Hungary for which the place of supply is in Hungary and are not subject to international reverse charge, that company must apply for a Hungarian tax number. In such cases, the foreign company may possess tax numbers in multiple countries, similarly to dual or multiple citizenship for individuals.
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