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The relationship between a company and its auditor has changed. Organisations must understand and manage risk and seek an appropriate balance between risk and opportunities.
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Outsourcing Changes to the Outsourcing legislation, specifically when offshoringSignificant changes to the dynamic of the financial services sector in recent years have shifted the paradigms in how we work. The increased digitisation of the workforce, changes in business models, globalisation, and remote working capabilities have led to a new approach to the delivery of services.
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Asset management Inflation and tax planningThe recent onset of rapid inflation is an unwelcome development that is having a widespread impact on US businesses and tax planning.
The asylum seekers – in certain jobs – are entitled to take up work in Hungary without a permit.
The Hungarian National Directorate-General for Aliens Policing is a law enforcement body responsible for the entry and stay of foreign nationals in the territory of Hungary. According to their official website, Ukrainian citizens in possession of a biometric (new type) passport can enter the territory of Hungary without a visa or being subject to other procedure.
Ukrainian citizens arriving from Ukraine with a passport (ie those who do not have Hungarian citizenship) may decide to stay in Hungary up to 90 days without any specific permit. For a longer period, or for working, studying here, they have to submit an application to the Directorate-General.
Ukrainian citizens might also be entitled to receive temporary protection. Hungary can provide temporary protection (ie recognise as a beneficiary of temporary protection) to anyone being forced to flee Ukraine due to the armed conflict. Beneficiaries of temporary protection are entitled to a legal stay until the war is over. However, beneficiaries of temporary protection are not entitled to travel within the territory of the European Union or staying legally in any other Member States.
Application for temporary protection can be submitted in person in any of the designed hotspots 24 hours a day, or in any client service offices of the National Directorate-General for Aliens Policing during reception hours.
Tourist tax exemption for people arriving from Ukraine
According to Hungarian rules, a tourist tax is levied on an individual over the age of 18 who spends at least one guest night as a non-permanent resident in the jurisdiction of the given municipality.
Pursuant to a recent Government Decree, from 24 February 2022, the tourist tax shall not apply to individuals arriving from the territory of Ukraine on or after 24 February 2022 who were legally resident in the territory of Ukraine prior to their arrival in Hungary.
State subsidy for employing Ukrainian (or Ukrainian-Hungarian dual) citizens
The Hungarian Government provides state subsidy to Hungarian employers in order to facilitate the employment in Hungary of a person with Ukrainian citizenship or Ukrainian-Hungarian dual citizenship fleeing the territory of Ukraine because of the armed conflict on or after 24 February 2022, if (among others)
- the employer employs the Ukrainian (or Ukrainian-Hungarian dual) citizen as an employee on or after 24 February 2022;
- the employee is employed in the territory of Hungary.
The state subsidy can be granted – at the employer’s request – to companies that have a registered office or branch in Hungary, for the duration of the employee’s employment, but for a maximum of 12 months. This period can be prolonged with a maximum of 12 months, but not more than the duration of the employment relationship.
The amount of the state subsidy is 50% of the employee’s monthly housing and travel costs, which may not exceed a maximum of HUF 60,000 (approx. EUR 158) per employee and an additional HUF 12,000 (approx. EUR 32) per child for children living in the same household with the employee.
If the child’s both parents are employees of the same employer, only one of the parents is entitled to the state subsidy.
The non-supported part of the housing and travel costs is borne by the employer and the employee at 50-50%. The state subsidy is free of charge.
By using the state subsidy, the employer undertakes to ensure the followings for the duration of the employee’s employment relationship:
- the employee’s and, if necessary, his / her child accommodation in appropriate conditions,
- the employee’s commute to work.
If you would like to discuss in further detail please contact Adam Pataki, senior tax aonsultant, Grant Thornton Hungary at adam.pataki@hu.gt.com