Submission of invoices and bank statements to an accountant: until the 5th day of each month.
Inform about sick leave, salaries, bonuses and other charges: until the 1st day of each month.
Change in the company’s activities (change of the statutory contract or personal data of the owner and director, change / correction of bank details, types of activities, etc.): within 5 working days from the date of entry of the changes.

Closing of the financial (accounting) year / filing of the annual report: until May 31 (for the previous financial year).
Submission of VAT returns and payments: until the 20th day of each month (for the previous month or quarter, depending on the format the company will choose).
Payroll taxes and social security contributions: until the 12th day of the current month for the previous month.
Corporate tax advances: calculated on the basis of the previous closed financial year and paid quarterly in 4 equal installments: until January 20, until April 20, until July 20, and until October 20.
Advance on local business tax is paid twice a year: until March 15 and until September 15.

local business tax: 2% and its calculated on the basis of turnover, taking into account some expenses: the cost of resold goods or services, repair of office space, etc.)
corporate tax (or income tax): 9% the lowest in the EU; applied to profits after deducting all direct and general expenses

dividend tax: 15%. Dividends can be paid to shareholders or kept in the budget of the company;

VAT (Value Added Tax): The standard rate is 27% and applies to most transactions for the supply of goods and services. With the exception of certain groups of goods and services, such as milk and dairy products, Internet services, food in restaurants, etc. -18%;  medical services and technology, magazines, paper books and e-books, etc. – 5%.  Exempted goods and services – financial and insurance services, sale or lease of land, postal services and sale of securities and others, according to the law. For companies conducting international trading, VAT may not be charged.

Simplified business tax (EVA): 37% if the total amount of revenue and other items that increase revenue does not exceed 30 million forints. Replaces the following types of taxes: VAT, entrepreneur’s personal income tax, entrepreneur’s dividend base tax, corporate income tax and dividend income tax etc.

KATA Simplified Taxation Form: the best choice for individual entrepreneurs engaged in services or small businesses whose annual turnover does not exceed 12 million ft/year. In this case, the tax amount ranges from 25,000 to 75,000 ft / month, this amount includes: 15% income tax, 10% pension tax, 8.5% medical insurance, 19.5% social tax and 1.5% professional tax. The remaining earned amount can be spent by the entrepreneur at his discretion, without additional taxation.

You can only invoice a buyer / client through the Hungarian Tax Service website, licensed software, or manually on the official form of strict accounting. Excel invoices issued by foreign programs or other unlicensed options are not accepted in Hungary. We strongly recommend you to register on the Hungarian Tax Service website and use their convenient billing form, or issue a license for billing software (license cost: about 150 euros per year) or learn how to use this solutions with help of HELP4YOU. In this case, you can bill in Hungarian and English in full accordance with local requirements.

In Hungary, all companies must submit regular accounting reports (in Hungarian language) starting the date of registration. A professional accountant is able to analyze documentation and look for inconsistencies, be careful with all tasks and report correctly. In this industry, any mistake can have extremely negative consequences, both for the owner of the company and for the entire company as a whole. We highly recommend to use the services of our professional accountants.