When it comes to taxation, the question of where one can find reliable advice and information often arises, as not everybody is a tax expert. Luckily, in most cases, this is not even necessary. People search the web with varying degrees of success, but online information is not always 100% reliable. Many times it is easier to turn directly to the tax authority.
NAV customer service – storage for forms
The NAV website contains plenty of useful material in Hungarian including, among others, information booklets, taxation leaflets, a calendar with taxation deadlines, and numerous other brochures that can ease your everyday tasks. You can also download all tax return forms from here too. Always make sure that information found online was composed compliant to effective Hungarian laws and regulations.
Using the phone numbers and email addresses listed under the Contact section of the NAV customer service you can ask your taxation questions from tax officials. However, before opting for the latter it is worth thumbing through the information leaflets issued by the Hungarian tax authority, as these contain answers to the most frequently asked questions. For instance, as students return from summer recess and fresh graduates enter the labour market, the duties related to property rentals and tax allowances are a hot issue, for which information leaflets issued by NAV under the titles Key Rules of Leasing or Otherwise Exploiting Real Properties and Information on tax-free housing allowances provided by employers to facilitate mobility contain useful information. Besides the above, there is a host of other articles on this subject on the NAV website.
Tax and contribution rates, and a multifunctional calendar
Online services of the NAV customer service also include providing useful information on tax and contribution rates, minimum wages, and the guaranteed wage minimum, all listed under Főlap/Szolgáltatások/Adókulcsok, járulékmértékek. For some reason, however, corporate tax is not on the list – for financial years beginning in 2017 the corporate tax rate amounts to 9% of the tax base.
By clicking on the calendar on the main page you can not only view the tax obligations due on a given date, but all necessary return forms are also available for download.
Beyond the NAV customer service website
In Hungary businesses need not only meet their deadline obligations in connection with tax returns and tax payment liabilities. The below list includes, but is not limited to, the current duties, deadlines and sources of information (the articles on our website are also available in English) relevant to these obligations:
- Business gate registration
Deadline: 30 August 2017
(You can find more detailed information on the registration process in our earlier article.)
- Local business tax – advance payment
Deadline: 15 September 2017
(You can read more about the local business tax here.)
- Reporting the use of registered seat services
Deadline: 29 September 2017
(You can read about this in more detail in our earlier article.)
- Preparatory tasks for switching to a foreign currency
(More exact information on the topic is available at the following link.)
- Preparation and organisation of inventory counts
Pursuant to an earlier amendment of Section 69 of Act C of 2000 on Accounting, for certain businesses doing an inventory “at least every third year” is enough. The second three-year period following the amendment will expire this year. In case of stocks the option of stock-taking in the last quarter prior to the reporting day of the financial year is also available if all regulatory conditions are met.
(The effective law on inventory checking is available in Hungarian by clicking here.)
- Review of contracts for the lease of advertisement billboards, dismantling advertisement billboards
Pursuant to Section 11/A of Act C of 1990 on Local taxes, advertisement billboards placed on properties in the competence of local governments are taxable as of 1 January 2018. The ceiling of the annual rate of the tax is HUF 12,000/m2 (ca. EUR 40/m2). In certain cases this can amount to a considerable sum compared to the rent (it could even exceed it). It is also worth noting what building tax rate a given local government has defined.
(More detailed information is available in Hungarian in the amendment to Act C of 1990 on Local Taxes.)
- Preparation of invoicing software for electronic data reporting
Deadline: 1 July 2018
(You can read more about the topic in our earlier article.)
This list clearly reveals that in tax issues there are several resources of appropriate information at your disposal besides the NAV customer service website, but the authenticity and reliability of these sources must always be carefully observed. The above examples prove that the website of WTS Klient Hungary always provides up-to-date and accurate information for you in both English and Hungarian.
Electronic data reporting – draft legislation on invoicing software programmes now available!
Tax implications of changing to a foreign currency
Change in rules on registered office services
Local business tax can change each year, and depending on where you are
Business gate registration for companies registered in the company register
Expected changes to foreign investments after the corporate tax rate cut Paying and topping up corporate tax
Tax amendments in 2018