TAX CONSULTATION IN HUNGARY

TAX CONSULTATION IN HUNGARY

Author

Prykhodko Andrii

TAX CONSULTATION IN HUNGARY

What taxes do you have to pay in Hungary?

Value added tax – the general tax rate is 27%, but a reduced tax rate of 18% is also applied to the production of dairy products, flour, 12% to food products, pharmaceuticals, medicine, hotel and transport services, 5% to equipment and services , books and magazines.

There are categories that are exempt from taxation – certain types of medicines, internal combustion engines, and exports.

Corporate tax – 10% before reaching the tax base of 1.8 million euros, 19% – no more than 1.8 million euros

Social taxes – • Employees pay 18.5% contribution on profit.

• Employers pay 15.5% of the gross income of employees as PS and 1.5% to the vocational training fund.
• Benefits in kind and entertainment expenses (meals, beverages and entertainment) provided to employees are subject to additional taxation

Local industrial tax – set by the local administration in each city separately from 0 to 2%. Construction taxes of 2 to 3% interest may also be charged.

Tax for individuals – general tax rate of 15%

A tax lawyer (lawyer) in Hungary will advise you on choosing the optimal tax system for business in Hungary regarding

• value-added tax in Hungary VAT (value-added tax),
• corporate income tax (CIT – corporate income tax),
• personal income tax (PIT – personal income tax)
• social deduction from employees (ZUS)
• local tax in Hungary
• tax on dividends in Hungary
• excise duty in Hungary

Tax optimization/exit tax/ tax planning (Hungary)

Among the most common tax optimization mechanisms in Hungary are:

• Creation of a group of companies that includes funds in Luxembourg, Holland, Liechtenstein and other jurisdictions, depending on the profile of your business and its features.
• Expanding your business to favorable tax residences (Hong Kong, Singapore, Slovakia)
• The system of refinancing foreign assets

Representation in tax authorities in Hungary by Yuk Prykhodko and partners – includes consulting, preparation of all necessary documentation, relations with tax authorities in Hungary and the EU on tax issues.

What is included in the duties of a tax lawyer of Yuk Prykhodko and partners:

• Consulting on taxes in Hungary
• Calculation of taxes in Hungary
• Preparation of tax documents in Hungary
• Tax representation in Hungary
• Settlement of tax disputes in Hungary

What is the cost of a tax consultation in Hungary? Leave your phone number and our specialists will contact you.