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Taxation of sales of goods – VAT

Taxation of sales of goods – VAT

There are different rules in the VAT Act for the provision of services and separately for the supply of goods. If you do business in Hungary, you should be aware of this. What are product sales? Product sales are when we acquire a tangible product, good, semi-finished...

Personal income tax in Hungary

Personal income tax in Hungary

Do I need to make a personal income tax return and when? If you are resident in Hungary and you had income in Hungary during the year, then yes, you have to submit a tax return. The submission deadline: 20th May of next year. What kind of incomes are taxable in...

Tax changes in Hungary from 2021

Tax changes in Hungary from 2021

As of 1 January, 2021, there are only a few tax changes that apply to employees, surprisingly compared to previous years. From 1 January 2021, the gross minimum wage was HUF 161,000 and the gross guaranteed minimum wage was HUF 210,600. According to decision of the...