Office News

The standard VAT rate is 27%. Reduced rates apply to certain goods and services (typically 5% and 18%), for example to some foods, medicines and services.

Corporate income tax is a flat 9%, one of the lowest in the European Union. A company pays it on its profit (its tax base), and the tax base is

A fixed establishment is a VAT and tax law concept: a lasting presence (such as an office or a warehouse of one’s own, run with staff) that already creates an

Late payment interest is an interest-type charge on tax paid late. The default penalty is a sanction imposed for failing to meet a filing, data reporting or other obligation. Both

On B2B sales (to business partners) the VAT is often accounted for by the buyer under the reverse charge rules. On B2C sales (to consumers) distance selling can be handled

In a tax audit the tax authority examines whether the returns and the records are correct, requests documents and makes findings. The company has to cooperate and provide data by

OSS is an EU scheme that allows the VAT on distance sales to consumers in other Member States (B2C) to be settled from the seller’s own Member State, in a

The global minimum tax is an international set of rules that prescribes a minimum effective tax rate of 15% for large multinational groups. It affects groups with high revenue and

If the company carries out taxable activity in Hungary (selling or storing goods here) but has no fixed establishment here, it needs a Hungarian VAT number, without setting up a

The company car tax is payable on passenger cars, and typically affects cars used by a company or on which costs are charged. Its amount depends on the engine power