Accounting, Payroll, Tax & Legal since 1989

5 Changes Coming Soon in Hungary

The only constant thing is change – especially in the business environment. We list here 5 points of change coming in the near future. There are much more, and we will keep you informed about them.

  1.  Minimum salaries will increase in January as every year. The plan is 8%, but the exact figures are not yet published.
  2. The lump sum tax of SMEs (KIVA) drops to 12% in 2020, following that of the social contribution tax in July 2019.
  3. VAT of hotel accommodation drops from 18% to 5% in January.
  4. The replenishment of yearly corporate income tax advances until 20 December is deleted. Unfortunately, it does not apply to the local business tax of companies over HUF 100 million revenue.
  5. The value limit of immediate online data transmission of sales invoices drops to zero in July 2020: all the invoices will be wired to the tax authority.
If you wish to know more about the above, get in touch with us.


20.11.19


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