As of January 1st 2023, the minimum basic salary of full-time employees has been increased to HUF 232,000. In accordance with this, the minimum of the contribution payment has been increased to HUF 69,600. Based on these numbers, the social contribution has to be paid after HUF 69,600, at the lowest.

Another change, which came into force on the 1st of January is that if an employee is being employed at a place and by an employer that differs from the one written in her/his employment agreement, or if she/he is under secondment, the original employer determined in the employment agreement remains the official employer of the employee, even if the employee, based on the agreement of the parties, receives her/his salary, and bonuses from the employer at the temporary workplace.

  1. The amendment states that those properties that had their function converted shall be deemed new properties in addition to those that are already new properties by virtue of the law. Based on this, the sale of a converted property is not VAT free anymore, the seller is obliged to pay VAT after the sale in cases where the statutory certificate stating the conversion is not older than 2 years. Reduced VAT of 5% for the sale of brand-new property is in force until  December 31st 2024 (in special circumstances until December 31st, 2028), after that the general 15% VAT shall apply.
  2. In the case of installation and construction works the reverse charge of VAT will become applicable even if the conversion is subject to other form of statutory authorization other than construction permit and simple notification requirement.
  • The requirements of data collection in regards of receipt data will now expand to the receipts issued by methods bound to the permit of the authorities and the technical methods that differ from using a cash register.
  • The rules of reverse charge will remain in use until December 31st, 2026 regarding selected cereal products, the sale of steel industry products and the granting of the right to emit greenhouse gases (emission allowance).

Based on the amendment, from now on, only those transfers will be free of duty in which the acquiror’s net income in the previous tax year derives from the leasing, operation, or sale of their own property at least in a 50 % ratio.

We would like to emphasize that the legislation summarized above has differing dates for when they come into force.


The amendment of the accounting law (based on the 2021/2101 directive of the European Parliament and of the Council) obliges specific companies to draw up, publish and make accessible a report as follows:

  1. Ultimate parent undertakings and standalone firms governed by their national laws, shall draw up, publish and make accessible a report on income tax information if the consolidated revenue on their balance sheet date exceeded for each of the last two consecutive financial years a total of EUR 750 000 000, as reflected in their consolidated financial statements, as regards the latter of those two consecutive financial years.
  • Member States shall provide for an undertaking to no longer be subject to the reporting obligations set out where the total revenue on its balance sheet date falls below EUR 750 000 000 for each of the last two consecutive financial years as reflected in its financial statements.

By definition an ultimate parent undertaking is the highest parent investment firm undertaking of the investment firm licensee or the holding company whose predominant investment are shares of the investment firm(s) (wherever established) that is not itself the subsidiary of another undertaking, while a standalone undertaking is an undertakingwhich is not part of any group.


This summary is intended to raise awareness and does not constitute legal advice.

If you have any questions or need further information, please do not hesitate to contact us.

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