Payroll-related tax and labour law changes in Hungary – 2024 Autumn

SME INFO Nr.2024-2 Hungary  –  This publication focuses on the changes in tax law affecting payroll, as well as on some labour changes. As usual, our goal is, instead of issuing a comprehensive summary, to focus on the changes we consider significant.

Download the full-text newsletter as a pdf in English: 
Payroll-related tax and labour law changes in Hungary – 2024 Autumn 
——
Töltse le a teljes hírlevelet magyarul pdf-ben: 
A bérszámfejtést érintő adózási és munkaügyi változások 2024 őszén Magyarországon 

 

The autumn 2024 „tax package” brought quite a lot of minor and major changes, which the legislator intended to focus on tax cuts, support for families and businesses, simplification, boosting and whitening the economy. To mention a few examples, several changes have been made in the field of family and housing allowances, in order to encourage sport activities, and a new tax authority procedure, the so-called data reconciliation, has been introduced.

 

In addition, we will publish separate newsletters on the major tax and procedural changes affecting other types of taxes (e.g. VAT, CIT, Local Business Tax) as well as the changes in the Act on Accounting, and we will also publish an additional newsletter related to the global minimum tax.

 

The content of our downloadable newsletter(s)

 

1   PERSONAL INCOME TAX

1.1 Family tax base allowance: two-stage increase in the amount of the allowance while amending the groups of beneficiaries

1.2 Narrowing the group of individuals entitled to the tax allowance of first-married couples

1.3 Narrowing the group of individuals entitled to the tax allowance of young people under the age of 25

1.4 Average gross earnings at the level of national economy for July 2024

1.5 Different use of amounts of the individuals’ voluntary pension fund accounts for a limited period of time

1.6 Use of 50% of the amount registered on the SZÉP Card for home renovation purposes

1.7 New SZÉP Card sub-account: supporting an active lifestyle with preferential taxation

1.8 Housing Support for workers under 35 years of age with preferential taxation

1.9 Treatment of grievance fees as tax-free payments

1.10 New tax-free benefit: zoo tickets and passes

1.11 New tax-free benefit: maintenance of sports facilities and provision of sports equipment

1.12 New tax-free benefit: support for student loan repayments

1.13 Clarifying the date of acquisition of the revenue

 

2   MINIMUM WAGE & GUARANTEED MINIMUM WAGE

 

3   HEALTH SERVICE CONTRIBUTION

 

4   SOCIAL CONTRIBUTION TAX

4.1 Tax Allowance in case of employees considering to be entrants to the labour market

4.2 Social Contribution Tax Allowance in case of training own employees: stricter conditions

4.3 Clarified deadline for reporting and paying Social Contribution Tax on certain defined benefits and fringe benefits

 

5  SMALL TAXPAYERS: ALLOWANCE AFTER LABOUR MARKET ENTRANTS

 

6  IMPORTANT CHANGES TO THE LABOUR CODE

6.1 Broadening the cases relating to exemption from work

6.2 Changes to agreements on maximum daily and weekly working hours

6.3 The deadline for taking Paternity Leave is extended

6.4 Prohibition of dismissal of executive employees during paternity leave

 

7  FURTHER CHANGES

7.1 Broadening the scope of persons exempt from work in the Electoral Procedure Act

7.2 New default penalty when clarifying insurance status

7.3 Cancellation of the tax number in case of violation of the monthly tax and contribution declaration obligation

 

 

Download the full-text newsletter as a pdf in English: 
Payroll-related tax and labour law changes in Hungary – 2024 Autumn 
——
Töltse le a teljes hírlevelet magyarul pdf-ben: 
A bérszámfejtést érintő adózási és munkaügyi változások 2024 őszén Magyarországon 

 

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