NEWS
2017 – Vital Changes in Taxation
A 2017 tax package has been adopted by the Parliament earlier this summer to make significant changes in 2017 taxation rules. Hereunder you find the most influential modifications that may affect your business. Modifications in cafeteria Healthcare services, as new tax-free bonus given by employers, is a new optional item of 2017 cafeteria system. Services […]
New Hungarian Tax Rules in the Focus of Investors
In the summer of 2010, the Hungarian Government decided to establish one of the most favorable corporate tax systems within the European Union. To this end, the former 19% corporate tax rate has been reduced to 10%. Limitation to the 10% tax rate is a maximal annual turnover of HUF 500.000.000 (approx EUR 2.000.000). As […]
10% CIT Rate to Definitely Replace the 19% CIT Rate
In the summer of 2010, the record low corporate income tax (“CIT”) rate of 10% for up to a ceiling of HUF 500 million tax base was introduced. At that time, the Hungarian Government wanted to implement the reduced CIT rate for all companies; however, due to the worldwide economic crisis that of course also […]
New Labor Code in Hungary
As part of the government efforts to launch economic growth, raise employment rates and reduce administration, the government introduced a bill relating to the Labor Code to the Parliament on 3 June 2011. The amendments aim to reduce the employer’s burdens and to allow a more flexible workforce management. With the new rules, the employer […]
New Public Procurement Rules in Hungary
On 21 July 2011, the Parliament approved the new Act on Public Procurement that will completely replace the current regulation. The new Act will enter into force on 1 January 2012. The Act CVIII of 2011 on Public Procurement is significantly shorter, its content being about the half in comparison to the previous law. As […]