The Hungarian enterprises, which have been charged VAT on business activities in another EU country, are entitled to have the VAT refunded by the authorities in that country. The accountant of the Hungarian enterprise should submit the refund application on line, before the 30th September of the following year. Therefore, the input VAT on EU purchases in 2016 should be claimed by the 30th September 2017, using the electronic form 17ELEKAFA.
From 1st January 2018, for the sake of modernization, the Hungarian Authorities (including the courts) will use the electronic Company Portal for addressing any correspondence to companies having a registered seat in Hungary. Companies must register themselves before 31 December 2017 (the initial deadline of 31 August has been extended) and provide the e-mail address they want to use for this purpose.
The base salary should be at least equal to the minimum wage (136 Mt). Base salary is generally monthly, but can also be reported to an hourly wage using 174 hours for a full-time job. A part-time salary will be calculated by reference to the resulting hourly wage. The base salary does not include bonuses provided by law, for Sundays, holidays, or working at night for example. The salary may be fixed for a period worked, but may also include a share paid to the task.
Premiums are calculated by reference to the basic salary of the employee, by reference to an hourly basis using 174 hours for a full-time monthly (Mt 139). Collective agreements may change the rate of such premiums, up or down, but employment contracts may not derogate in a direction more favorable to the employee. For employees whose regular schedule includes Sunday, the premium for Sunday work is 50% of the basic wage (Mt 140). The premium for a day of the weekend (Saturday or Sunday) or public…
Basic annual leave, 20 days per year, is increased depending on the age of the employee (and not on the seniority in the company) up to 30 days per year. The annual leave entitlement is also increased for children. Annual leave must be taken within the calendar year.
The equity of a Kft (LLC) must always exceed 50% of the issued capital. The Companies Code in principle provides several ways to restore equity: waiver of debt results in a profit taxable under normal conditions, so companies are trying to solve this problem by an additional payment or a capital increase. However, the Hungarian Tax Office may re-qualify these methods when they involve companies in liquidation.