Business News from Hungary by Peterka Partners
Local business tax can be paid in EUR, USD
The Hungarian Parliament has opened the floodgates by introducing the opportunity to pay corporate income tax in EUR or USD, and, as from next year, local business tax payment obligations may also be satisfied by EUR or USD transfers. Local business tax is paid in two instalments as tax advances, by 15 March and 15 September, respectively, with the yearly tax returns due by 31 May.
Banks to watch Széchenyi Holiday Card amounts with eager eyes
The Széchenyi Holiday Card, a popular fringe benefit provided by many companies to employees, is expected to lose some of its charm. Pursuant to a new rule, any amounts sitting on the Széchenyi Holiday Cards for over a period of one year can be reduced by 15% by the financial services provider. Half of said collection will go to the financial services provider, while the other half is due to the Hungarian Tourism Association’s Foundation.
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