Mission Statement

We are committed to providing you with the highest standard of quality. Our practices provide seamless, worry-free control, cost effective professional accountancy, book-keeping, payroll and tax services for small and middle sized organizations. We are proud of our ability to gain custom through word of mouth and recommendations from our clients.

„Our team of chartered accountants, payroll expert, lawyer and tax advisors, dedicated, international professionals wish to ensure that your business issues are accurate, reliable and timely information are obtained. We offer support for your business needs.”

When you are taking the first steps to establish a formal organization, need help as an entrepreneur or sole trader or looking for accountancy services, we can help you. We offer a range of services that can help you to provide a flexible solution to meet your accountancy needs, regardless how diverse your business is. With a transparent and reliable accounting process, clients can concentrate on its business activity.

What is tailored for you:

  • On request one of our colleagues can visit you for taking over your accountancy materials.
  • English language can be required every step of the process.
  • Reports can be adopted to IFRS regulations or the form required by the mother company.
  • You can access accountancy figures and can manage your accounts online. You can login to our secure website and access all of your Online Accounts records for your business. This is an extra service which is provided on demand. (AcCloud.hu)

Accounting and Bookkeeping services

Reliability and accuracy

Personalized service

Consulting and advisory

Reasonable pricing

Tax advising

Tax consultancy and guidance

Tax risk considerations

Tax saving methods and suggestions

Monitoring company’s incomes and expenses

Payroll services

Handling urgent matters and registrations

Keeping employees and employers to be informed

Double taxation consultation

Being in communication with employers permanently


Our Services

Accounting and Bookkeeping services

• Double-entry, general ledger book-keeping

• Preparation of annual balance sheets and P&L statements according to the Hungarian and European rules and standards (IFRS)

• Development of internal chart of accounts and accounting policy for clients

• Maintain ledger transactions

• Financial statements, balance-sheets

• Managing account payable, account receivable

Payroll services

• Payroll calculations

• Calculation of social insurance and health care contributions and pensions

• Calculation of unemployment contribution for each employee and the company

• Calculation of advances on personal income tax payable

• Record of payments and other necessary data

• Annual provision of data to tax and social security authorities

• Preparation of monthly reports

• Calculation of payments

• Registration data to the authorities

Tax advising

• Tax-consultation, management of tax matters

• Tax-planning, consultation on taxation matters

• Generating reports for tax authorities and providing financial reports to the management of the companies

• Monitoring and recording company’s incomes and expenses

• Managing all aspects of taxation including tax compliance, tax planning, gains policies

• Analyzing and monitoring all tax accounts

Legal services

• Establish companies according to the actual law

• Incorporation by electronic method

• Work and residence permits

• Prepare documents related to company dissolution

• Legal advisory

• Advisory at business activity

Transfer pricing

• Preparation of documentations

• Compliance review of the transfer pricing documentations prepared by our clients

• Assistance to the preparation of transfer pricing documentations

News

Useful information

Personal Income Tax Return

Personal Income Tax Return

General information

A private individual qualifies as an art performer if they perform one of the following professions in accordance with the Uniform Classification System of Professions published in the communication of the president of the Central Statistical Office no. 7/2010 (IV. 23.) regardless as to whether the private individual performs it individually (including the private entrepreneurship) or not: •Musician and singer out of the professions of 2724 Composer, musician, singer •2726 Actor, puppeteer, •Dancer out of the professions 2727 Dancer and choreographer, •2728 Circus and similar performer, and •3711 Supernumerary, crowd artist. You may choose this tax return form only if you have not been staying in Hungary for more than 183 days of any 12 month period and do not qualify as a domestic resident in accordance with the Act on Social Security and Private Pension Services and the Reserves of these Services. You do not have to file this tax return if the amount of your income received in your quality as an art performer has not exceeded 200,000 HUF in any 12 month period. However, if your income has exceeded that threshold you are obliged to file a return with the condition that your declaration and payment obligations of 15% personal income tax and 14% health care contribution relate to your entire income in the first instance, and the yet undeclared and unpaid parts in any of the following instances. You must file your return and pay your taxes before you leave Hungary, unless you fulfil your tax return obligations by representative in which case the deadline is 90 days after leaving the country. The income must be established by deducting 30% as costs from the earnings (earnings including the provided refund of costs and the quid pro quo of the provided accommodation). This income does not belong to the integrated tax base.

Personal Income Tax Return

Taxpayer registration

Taxpayer registration

Taxpayers shall fulfil their obligation to register with the tax authority prior to the commencement of pursuing their business activities on the territory of Hungary. As the tax number generated upon registration also serves as a VAT identification number, no separate registration is necessary in respect of VAT.

Taxpayer registration

VIES VAT number validation

VIES VAT number validation

To respond to the needs expressed by several users, the Vies-on-the-Web system offers the facility of testing to development teams trying to: •Perform integration testing of their own applications; •Or to verify the availability of the VIES-on-the-Web application.

Both actions can be performed as follows:

For the interactive service: •in the field “VAT Number”, please input the following exact text “TESTVATNUMBER”; •Push “Verify”; •The reply to be received should be: “No, invalid VAT number”;

→ This reply means that the Service is available.

VAT validation,

VAT obligations for foreigner marketer at markets and fairs in Hungary

VAT obligations for foreigner marketer at markets and fairs in Hungary

The below summarized VAT obligations are for those marketers operators that arrive occasionally to Hungary with the purpose of selling their products in markets, fairs, exhibitions or similar events.

Obligation to register Sales of products performed by marketers in the territory of Hungary are considered under the VAT regulation1, i.e. the marketer should request a VAT number in Hungary2. Foreign operators can apply for a tax number at any of the county directorates, the Budapest Directorate or the Large Taxpayers Directorate of the National Tax and Customs Administration of Hungary and must do so prior to the first sale transaction they perform. The foreigner marketer should complete a fill in form for requesting a TAX number. If the marketer is a private individual, then he/she should properly fill in the main sheet of the form T1013 applied in the registering year, as well as sheets A01, A02 and F01. However, if the marketer is a business association, then should be properly fill in the main sheet of the form T2014 applied in the registering year, as well as sheets A01, A02 and F01. The foreign marketer will be allowed to sell legally in markets, fairs etc. only after receiving the proper tax registration number requested as above mentioned.

VAT obligations for foreigner marketers

Minimum wage in Hungary - 2017

The minimum wage will increase by 15 percent in 2017 and another 8 percent in 2018. The payroll tax paid by employers will be cut by 5 and 2 percentage points at the same time.

For skilled workers the guaranteed minimum wage, a higher wage category, will increase by 25 percent in 2017, and another 12 percent in 2018.

MINIMUM WAGE - 2017

Ft


GUARANTEED MINIMUM WAGE - 2017

Ft

Gross minimum wage

127.500

Gross minimum wage

161.000

Net minimum wage

84.788

Net minimum wage

107.065

Employer’s payables

29.963

Employer’s payables

37.835

Deducted from the gross salary

42.712

Deducted from the gross salary

53.935

Sum of all payables

72.675

Sum of all payables

91.770

Sum of all wage cost

157.463

Sum of all wage cost

198.835

Net salary calculation

The permanently changing tax rules are not easy to follow. Contributions and taxes which are deducted from the gross salary and the personal income tax (PIT) rate are not changed in 2017.

Click here if you need a quick net salary calculation:

http://www.kulcs-soft.hu/berkalkulator

Contact Details

  • Monday - Friday: 8:00 AM to 5:00 PM
  • Address: 1025 Budapest, Szeréna utca 63.
  • Mobile: (+36) 30 400 93 84
  • Office: (+36) 1 613 88 18
  • Fax: (+36) 1 613 87 19
  • Email: a.rehling@tax-band.hu

Contact Us