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Cegkapu / Company Gate

Company Gate: register your companies

There has been a couple of weeks passed on since the latest administration nuisance: Company Gate registration became available, and we released our first news about. Below we give a more detailed overview of Company Gate administration. What’s it good for? Company Gate is an official storage space available to business organisations. According to the […]

CEGKAPU: mandatory registration to all companies

Attention: new company administration task to register for company gate by 30 August 2017 – a new legislation suggests. Hungarian legislation lays down requirement for all business organisations to arrange their official affairs through a safe, secure and verified electronic connection with government offices and utility companies. According to new government regulation business organisations shall […]

Raise share capital

15 March 2017: deadline to raise share capital to HUF 3 million

Attention: KFT owners Hungarian limited liability company owners shall pay attention to obligatory share capital increase.  According to a 2-years-ago passed bill KFT minimum share capital was set to HUF 3,000,000 from the former HUF 500,000. Accordingly since 15 March 2014 newly established KFTs need to have minimum HUF 3 million share capital. Nevertheless owners of […]

Local tax, local business tax

Besides corporate tax there is also another profit based tax in Hungary, the so called local tax. Town municipalities levy and collect local taxes as to contribute to municipality liabilities. While in opposition: corporate tax is collected by central government. There are four main classes of local taxes: local business tax; property tax; tourism tax; […]

Taxation changes in 2017

Taxation changes in 2017

As year and is coming so develop next year tax guidelines. Recently the government put through a bill in the Parlianemt about some major changes in taxation. Let’s see what are the most important changes in taxation for 2017.   Corporate tax According to latest Government announcement corporate tax rate is expected to be reduced […]

Destination: Hungary

Key benefits of starting business in Hungary

You’re thinking about opening a new company, and Hungary is the place where you want to build your dreams. Here are the benefits that opening a Hungarian company may offer to you.   Hungary has a stable economic and political system Real real GDP growth has been expected to pick up to 3.7% in 2017, […]

Business phone

Business phone and private usage

As a company owner or manager it’s worth knowing that telephone services will imply significant extra costs if you don’t pay attention. The law by default assumes there was private usage, and this does prohibit deducting the VAT of the expense. For this reason the VAT act applies the 70% rule on deductibility: meaning that 30% of […]

VAT in Hungary

Hungarian VAT essentials

  Basic information The value added tax is called „Általános forgalmi adó” or simply „Áfa” in Hungarian. Hungary is a member state of the European Union. Non-Hungarian entities are required to register for Hungarian VAT if they perform business transactions in Hungary. The main source of Hungarian VAT regulations is Act CXXVII of 2007 on […]

Branch offices

Branch offices and commercial representative offices of foreign business associations in Hungary

In this article you will learn about two special business organisations that are available in Hungary for foreing companies to carry out business activity. These business organisations differ from the common forms of companies, however may easily be suitable for several foreign enterprises.   1. Branch offices Foreign entrepreneurs may conduct their business in Hungary by opening […]

Budapest, Hungary

Doing Business in Hungary 2016

For particular tax, accounting and audit questions please contact us. The objective of Doing Business in Hungary 2016 is to provide guidance on the business environment in Hungary for those decision-makers who are interested in engaging in business activity in Hungary. The publication focuses on the general overview, like currency, climate, cost of living, bankink, and […]

e-filing

Company Portal goes live from 1 January

The government’s company portal system goes fully live from 1 January 2019, which may block companies’ tax administration if not arranged. The company portal has been on the table since August 2017, though it might have fallen out of the lights after the National Tax Administration (NTA) confirmed at the end of the last year […]