Taxes

verbs

follow recommended practicies

nouns

income taxes

VAT

CIT

PIT

tax payable

tax receivable

carry forward loss

employees

employee benefits

tax haven

tax evasion

tax return

tax rebate

tax authority

tax burden

pay taxes

wrap up the tax return

submit

gross income

lower the tax burden

tax risk

tax regime

effiective tax rate

set aside for taxes

fiscal policy

avoid paying taxes

charge a tax

levy

small business tax

local business tax

deduct

social contr. tax

(when you pay more tax than you should - refund)

The tax burden is heavy in Hungary, companies have to pay all kinds of taxes, like Corporate Income Tax, Local Business Tax and Value Added Tax.

Even if you follow the recommended practices, you may end up paying more tax than you should. In this case, you can apply for a tax rebate.

The taxpayers should wrap up and submit their tax returns several days prior the dealine, thus they will avoid running a tax or a default penalty risk.