Dear Our Client!
Please let me tell you few words about the proposed tax changes (some of these were sent to you in the Summer)
- From 1st January 2018, the companies have to register their foreign bank accounts to the Tax Office.
- Tax Authority will publish a list from those tax payers who don’t submit their VAT reports in time.
- From 1st July 2018, all companies (in their VAT reports) have to report their issued and received invoices which have more than 100.000 HUF VAT. In these invoices, the partner’s VAT number must be indicated
- From 1st January 2018, the health contribution (14%, over 1 mHUF revenue) will be cancelled for the rentals. The only tax will be paid is the 15% personal income tax.
- From 1st January 2018, the VAT for internet services and for restaurant services will be decreased from 18% to 5%.
- The central government published „Cégkapu” – Company gate – where every company has to register. This is a platform where the authorities will communicate with the companies. Until 31st December, nobody will be fined. The Managing Directors have to register the company with the own „Ügyfélkapu code” on the website https://tarhely.gov.hu/ckp-regisztracio/kaulogin.html („Bejelentkezés” – Log In) and after on the website https://rendelkezes.kekkh.gov.hu/rny-public/. If you don’t have „Ügyfélkapu registration”, you can do it only personally at a Hungarian Government Office. In this matter, please take care of it as soon as possible.
- From 1st January 2018, the social insurance tax will be decreased from 22% to 19,5%.
- From 1st January 2018, the tax on non-preferential wage subsidies will be reduced from 43.66% to 40.71% due to a reduction of the health contribution (from 22% to 19.5%). The tax on discounted fringe benefits will remain at 34.22%.
- From 1st January 2018, the minimum wage will be HUF 138,000 (EUR 460) per month and the guaranteed minimum wage will be HUF 180,500 (EUR 600) gross amounts).
- The possibility for reporting the personal income tax by the employer will no longer available.
- The cash benefit base for KATAs entrepreuner’s will be HUF 94,400, the base for the increased KATA payers will be HUF 158,400
Please note that the majority of the points listed are only drafted.
Sources: adozona.hu, ado.hu, pallas70.hu
Budapest, 30th November 2017.
Best Regards,
Perscriptor Accountancy Office Ltd.
