ACCOUNTING SUPPORT FOR BUSINESS (COMPANY) IN HUNGARY

ACCOUNTING SUPPORT FOR BUSINESS (COMPANY) IN HUNGARY

Author

Prykhodko Andrii

ACCOUNTING SUPPORT FOR BUSINESS (COMPANY) IN HUNGARY

Accounting outsourcing of companies in Hungary is the best option for business owners. The cost of such accounting support is much lower than keeping your own accountant on staff.

The corporate and tax legislation of Hungary establishes record-keeping requirements for entrepreneurs. Thus, a legal company must submit an accounting report, as well as all documentation must be done in Hungarian. Companies must annually submit financial statements, an annual report and tax returns. An audit of financial statements is carried out if the turnover of the company exceeds 10,000,000 forints (about 243,990.64), and the number of employees exceeds 50 people.

The annual report is also submitted to the Ministry, depending on the annual turnover and the number of employees, the report can be submitted in a simplified or full form.

Accounting support for activities in Hungary

For the correct submission of all tax and financial statements, in accordance with EU legislation, a large number of companies registered in Hungary use the services of accountants who are not part of the company’s staff. Since we have our representatives in the largest cities of Hungary, all financial and tax reports can be submitted by our specialist.

An accounting firm in Hungary, what are the advantages of working with it?

External accounting service in Hungary has many advantages, the main advantage being that, in case of incorrect submission of reports or calculation of payments, payment at own expense of all fines issued by the controlling authority.

A Ukrainian- or Russian-speaking accountant in Hungary, namely in the capital Budapest, is our advantage over other accounting companies.

Consulting on accounting in Hungary in Ukrainian or Russian will simplify the understanding between you and the accountant, make it more accessible for you to understand Hungarian legislation in the field of accounting and taxes.

Accounting in Hungary

Since Hungary is a member of the EU, and EU legislation sets strict requirements for accounting and tax accounting.

In general, there are the following accounting options, they are also used in Hungary:

• When a director or an individual entrepreneur independently maintains accounting. In this option, there are practically no advantages, but there are many disadvantages, in particular, insufficient time for conducting business directly, making mistakes in case of omission of novelties in the legislation of Hungary and the EU.
• When there is an individual who is registered as an accountant and carries out his activities in the company. In this case, a person fulfills his obligations to the company without any problems, fulfilling his direct duty of accounting for a certain company – this is an obvious advantage.

However, there are also disadvantages: the rather large salary for maintaining such an accountant, which reaches about 1 thousand euros per month, and in some cases it can be even more. Also, if the accountant does not come to work, then it is necessary to find a replacement for him, this involves additional costs. Often, one chief accountant and several ordinary accountants are hired, which implies significant costs for their maintenance.

• Accounting support (outsourcing) of business in Hungary

There will be no downsides if you contact real professionals who guarantee their work.

Among the advantages, you should pay attention to the following – we employ a large number of accountants of various specializations, and therefore we guarantee the performance of work at the highest level, the low cost of the service in comparison with others, answers to any of your questions that may arise during accounting . Our specialists have a high level of knowledge in many types of business.

In more detail about the last point, we provide accountant services in Hungary, in particular:

Accountant in Budapest

Accountant services in Hungary include:

• Accounting service for enterprises of all organizational and legal forms
• Accounting and tax audit of a company (business) in Hungary
• Preparation and submission of declarations and reports to tax and control authorities
• Representation of a lawyer and an accountant in the tax authorities of Hungary
• CIT, PIT, ZUS, VAT (VAT), declarations – preparation, verification and submission to regulatory bodies.
• Keeping personnel records, calculation of salary, payment of relevant taxes for employees, submission of personnel reports
• Import-export operations (WDT, WNT)
• Preparation of invoices and invoices
• Making bank payments
• Analysis of the financial state of the enterprise

Accounting services in Hungary are one of the main areas of activity of YK Prykhodko and partners, because we are familiar with the legislation of the EU and Hungary in the field of taxation and financing, and therefore we clearly understand how the tax system works in Hungary and will help you choose the best tax system specifically for your business, because for each client, we have an individual approach that depends on the direction of your activity, organizational legal form of a legal entity.