We help bring your investment ideas to life
Accounting Services in Hungary
Our accountants have diverse specializations and extensive professional experience, and we guarantee the accuracy and reliability of the services we provide.
What Does the Accounting Service Include?
Partnering with us allows you to begin realizing your plans today, supported by our complete expert, legal, and advisory services.
Financial Reporting
A company registered in Hungary must submit financial statements once a year. VAT reports must be submitted monthly or quarterly (after 3 years of operation).
Audit Preparation and Support
Company specialists will prepare all required documents and submit them together with you to the relevant government authority.
Substance in Compliance with EU Requirements
After a positive decision from government authorities, you will receive a residence permit valid for 2 years and will be able to benefit from all the privileges of this status.
Payroll Calculation (PAYROLL)
An accountant will calculate salaries, ensuring full compliance with local legislation, accuracy of calculations, and timely reporting.
Take the First Step Toward Making Your Vision a Reality – Get in Touch Today!
Taxes for Businesses in Hungary
Contact us for detailed information on this topic.
Corporate Income Tax
Corporate income tax in Hungary is a competitive and relatively simple corporate taxation tool to administer. The standard rate of 9% remains one of the lowest in Europe, making the country attractive for both local and international business. Additional aspects, such as local taxes, international minimum taxation rules, and alternative regimes for small businesses, require careful consideration as part of tax planning and investment attractiveness assessment.
Dividend Tax
• The dividend tax rate for individuals is 15%
• Social contribution (SZOCHO) — 13%, applied subject to an annual cap
• Non-residents may benefit from double taxation treaty relief
• For companies, dividends are generally exempt from corporate income tax if certain conditions are met
• Social contribution (SZOCHO) — 13%, applied subject to an annual cap
• Non-residents may benefit from double taxation treaty relief
• For companies, dividends are generally exempt from corporate income tax if certain conditions are met
Tax on Passive Income
Interest, dividends, and rental income are subject to personal income tax (PIT) at a rate of 15%. In certain cases, an additional social contribution applies. Tax benefits and exemptions may be available depending on the income source and tax status.
Capital Gains Tax
This tax is levied on income from the sale of assets (real estate, securities, shares). The taxable amount is the difference between the sale price and documented expenses; exemptions and reliefs may apply depending on holding periods and reporting compliance.
Value Added Tax (VAT)
The standard VAT rate is 27% (one of the highest in the EU).
Reduced rates of 18% and 5% apply to certain goods and services.
VAT registration is mandatory when conducting business in Hungary or when established thresholds are exceeded. Reporting must be submitted electronically in compliance with strict deadlines and requirements.
Reduced rates of 18% and 5% apply to certain goods and services.
VAT registration is mandatory when conducting business in Hungary or when established thresholds are exceeded. Reporting must be submitted electronically in compliance with strict deadlines and requirements.
Get precise answers to your specific questions with our personalized consultation service.
Expert Consultation Services
Professional Consultation — $100/hour
The consultation lasts 30 or 60 minutes, depending on your preference. All questions and answers will be provided in writing after the consultation.
You can pre-submit a list of questions and receive answers electronically, saving time during your consultation to discuss nuances and details with our expert.
Frequently Asked Questions
The most frequently asked questions about accounting in Hungary
What Qualifications and Certifications Must an Accountant Have in Hungary?
Hungary establishes clear requirements for the qualifications of professionals who perform accounting services and issue official financial reports.
1. General Requirements for an Accountant
To maintain company accounting in Hungary, a specialist must have appropriate education and professional qualifications. Basic accounting tasks usually require:
• Secondary or higher education in accounting, finance, or economics;
• Professional knowledge of Hungarian accounting standards and tax legislation.
2. Professional Qualification (Mérlegképes könyvelő)
To provide a full range of accounting services, including preparation of annual financial statements and representation of the company before government authorities, an accountant must hold the Mérlegképes könyvelő qualification — a registered professional accountant:
• Accountant qualification (diploma or certificate from a recognized professional course);
• At least three years of professional accounting experience to register with the Ministry of Finance.
3. Auditor Certification and Extended Competencies
Professional auditors and audit accountants who perform financial statement audits must have:
• Higher education (Bachelor’s or Master’s degree);
• Auditor qualification;
• At least three years of practical experience, including work within a supervised structure;
• Registration with the Hungarian Chamber of Auditors (MKVK).
4. International Professional Certifications
In addition to national qualifications, international professional certifications are also highly valued in Hungary, such as ACCA (Association of Chartered Certified Accountants) or specialized courses in International Financial Reporting Standards (IFRS). These certifications enhance professional recognition and are particularly useful when working with international companies.
5. Registration and Professional Authorization Requirements
An accountant must be officially registered with competent authorities (Ministry of Finance or relevant professional chambers) and have verified authorization to practice. This is especially important for preparing annual reports, submitting them through government systems, and interacting with Hungarian regulatory authorities.
1. General Requirements for an Accountant
To maintain company accounting in Hungary, a specialist must have appropriate education and professional qualifications. Basic accounting tasks usually require:
• Secondary or higher education in accounting, finance, or economics;
• Professional knowledge of Hungarian accounting standards and tax legislation.
2. Professional Qualification (Mérlegképes könyvelő)
To provide a full range of accounting services, including preparation of annual financial statements and representation of the company before government authorities, an accountant must hold the Mérlegképes könyvelő qualification — a registered professional accountant:
• Accountant qualification (diploma or certificate from a recognized professional course);
• At least three years of professional accounting experience to register with the Ministry of Finance.
3. Auditor Certification and Extended Competencies
Professional auditors and audit accountants who perform financial statement audits must have:
• Higher education (Bachelor’s or Master’s degree);
• Auditor qualification;
• At least three years of practical experience, including work within a supervised structure;
• Registration with the Hungarian Chamber of Auditors (MKVK).
4. International Professional Certifications
In addition to national qualifications, international professional certifications are also highly valued in Hungary, such as ACCA (Association of Chartered Certified Accountants) or specialized courses in International Financial Reporting Standards (IFRS). These certifications enhance professional recognition and are particularly useful when working with international companies.
5. Registration and Professional Authorization Requirements
An accountant must be officially registered with competent authorities (Ministry of Finance or relevant professional chambers) and have verified authorization to practice. This is especially important for preparing annual reports, submitting them through government systems, and interacting with Hungarian regulatory authorities.
How Much Do Accounting Services Cost in Hungary?
The cost of accounting services in Hungary depends on workload, company size, and the scope of services included. The main pricing factors include the number of accounting transactions and invoices, preparation and submission of reports (monthly, quarterly, annual), payroll processing, consulting, and interaction with Hungarian tax authorities.
Typical Estimated Prices
Monthly Accounting Support
• Small companies / startups: from approximately €200–270 per month for a basic accounting package (including invoice registration, banking operations, reporting, and minimal payroll) with a low transaction volume.
• Standard level: approximately €250–440 per month, depending on the number of invoices, transactions, and employees.
• Comprehensive service / extended package: from €220 and higher depending on the transaction volume and additional services.
Annual and Comprehensive Packages
• Some companies may choose annual accounting packages ranging from approximately €1,500 to €3,500 per year (including all regular obligations).
• Comprehensive solutions for foreign companies with extended services may include fixed packages starting from €3,000 and above for semi-annual or annual periods.
Additional Services (If Required)
• Payroll for additional employees — fixed monthly fee per employee (approximately €25 or more per employee).
• Tax consulting and reporting consultations — from approximately €100–120 per hour when ordered separately from the basic package.
Pricing Features
• Fees are often calculated based on the number of accounting entries, invoices, and bank transactions per month.
• Basic prices may exclude VAT; Hungarian VAT (27%) may be added where applicable.
• Companies with a high transaction volume, multiple employees, or complex reporting typically pay higher fees than micro-enterprises.
Typical Estimated Prices
Monthly Accounting Support
• Small companies / startups: from approximately €200–270 per month for a basic accounting package (including invoice registration, banking operations, reporting, and minimal payroll) with a low transaction volume.
• Standard level: approximately €250–440 per month, depending on the number of invoices, transactions, and employees.
• Comprehensive service / extended package: from €220 and higher depending on the transaction volume and additional services.
Annual and Comprehensive Packages
• Some companies may choose annual accounting packages ranging from approximately €1,500 to €3,500 per year (including all regular obligations).
• Comprehensive solutions for foreign companies with extended services may include fixed packages starting from €3,000 and above for semi-annual or annual periods.
Additional Services (If Required)
• Payroll for additional employees — fixed monthly fee per employee (approximately €25 or more per employee).
• Tax consulting and reporting consultations — from approximately €100–120 per hour when ordered separately from the basic package.
Pricing Features
• Fees are often calculated based on the number of accounting entries, invoices, and bank transactions per month.
• Basic prices may exclude VAT; Hungarian VAT (27%) may be added where applicable.
• Companies with a high transaction volume, multiple employees, or complex reporting typically pay higher fees than micro-enterprises.
Do You Provide Tax Consulting Services?
Yes, Westbridge Consulting provides tax consulting services as part of comprehensive business and financial support. We help clients navigate tax legislation, assess tax risks, and develop efficient and compliant tax solutions in accordance with international practices.
Our services include analysis of tax obligations, consulting on business structuring, cross-border operations, and interaction with tax authorities. We work in cooperation with specialized tax professionals and legal experts to ensure full compliance with applicable legislation.
Our services include analysis of tax obligations, consulting on business structuring, cross-border operations, and interaction with tax authorities. We work in cooperation with specialized tax professionals and legal experts to ensure full compliance with applicable legislation.
Is Hungarian VAT Valid Throughout the European Union?
VAT (Value Added Tax) applied in Hungary is part of the unified VAT system of the European Union. This means that:
Hungarian VAT is based on the European VAT Directive (Directive 2006/112/EC) and is aligned with EU-wide rules. EU VAT regulations apply across all member states, including Hungary, ensuring consistency in the fundamental taxation principles within the Union.
Companies registered in Hungary receive an EU VAT number (starting with the HU prefix), which is recognized and used throughout the EU for intra-community transactions. Within the EU, such numbers allow companies to apply preferential rules (for example, zero-rate VAT on goods sold between VAT-registered businesses in different EU countries when applicable conditions are met).
When trading between EU countries, unified rules determine the place of taxation, tax benefits, and reporting requirements at the EU level. This means that Hungarian VAT rules are aligned with European standards, although rates, conditions, and application may vary depending on the specific transaction and the location of the customer.
Therefore, Hungarian VAT operates within the overall European VAT framework, and its principles are recognized throughout the EU, while specific tax obligations depend on the particular transaction and the rules of the customer’s or supplier’s country.
Hungarian VAT is based on the European VAT Directive (Directive 2006/112/EC) and is aligned with EU-wide rules. EU VAT regulations apply across all member states, including Hungary, ensuring consistency in the fundamental taxation principles within the Union.
Companies registered in Hungary receive an EU VAT number (starting with the HU prefix), which is recognized and used throughout the EU for intra-community transactions. Within the EU, such numbers allow companies to apply preferential rules (for example, zero-rate VAT on goods sold between VAT-registered businesses in different EU countries when applicable conditions are met).
When trading between EU countries, unified rules determine the place of taxation, tax benefits, and reporting requirements at the EU level. This means that Hungarian VAT rules are aligned with European standards, although rates, conditions, and application may vary depending on the specific transaction and the location of the customer.
Therefore, Hungarian VAT operates within the overall European VAT framework, and its principles are recognized throughout the EU, while specific tax obligations depend on the particular transaction and the rules of the customer’s or supplier’s country.
Stay Ahead with Our Newsletter
Get the latest insights on key economic trends in Hungary and the EU