Hungary is situated in central Europe and is landlocked,
sharing borders with seven countries. It has a population
of almost 10m and its capital city, Budapest, is one of Europe’s
top tourist destinations.
Hungary joined the European Union in 2004 but has thus far
retained its currency, the Forint (HUF). GDP per capita was
USD19,330 in 2009.
Hungary is not viewed as a particularly low tax jurisdiction,
although since taking becoming Prime Minister in 2009, Gordon
Bajnai has set about revising the tax system to lessen taxes
on businesses and individuals and has moved to introduce taxes
on wealth
Unemployment in Hungary has risen from 5.8% in 2003 to 7.8%
in 2008 and the most recent figures available (for 2009) show
it at 11%. The effects of the global financial crisis are
largely responsible for this increase.
Unveiling details of the government’s latest economic plan, Hungary’s
Prime Minister Viktor Orban announced a series of tax cuts, designed to reassure
investors and calm nervous markets. RSS
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The Organisation for Economic Cooperation and Development has published its annual report on 'Taxing Wages 2008-2009,' an overview of the share of tax and social security charges in the total cost of employment. RSS
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Governments must now gear their economies towards jobs, international competitiveness
and increasing the tax-take, the Organization for Economic Cooperation and Development has said in its latest ‘Going for
Growth’ report, analyzing the next step for recovering economies. RSS
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Updates
Just wondering if anyone had any tips on getting clients to pay up in a timely fashion?
Am a freelance writer, with a number of regular gigs with online and offline publications, but, with a couple of exceptions - which have just about kept my head above water some months - they're all pretty awful at paying up on time. The payments trickle through eventually, but often not without pushing from me.
It's really getting me down, and may well end up sinking me financially. So...what do you do?
I am not an Irish citizen but have been based in Ireland for many years. For the last 6 years I have worked overseas (outside EU) only spending max 6 weeks holiday a year in Ireland. For the time I have been overseas I continued to make an Irish tax return and there was no liability to foreign tax. It is possible that I will secure a 2 year contract overseas that will substantially increase my income. This new contract will require that I pay local income tax. What can I do to minimise Irish tax liability? It may be possible to have salary paid in a double tax agreement location if this would help.
I am looking to set-up as a sole trader in Ireland. One of my clients is an American company paying into my Irish account for work done. Do I have to pay taxes in both countries, or how does this work? Help!M
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