136 result(s) for retail tax
Mandatory Use Of Online Tills For Hairdressers, Cosmeticians In Hungary
- 3 Jan 2016 8:00 AM
- business
Hairdressers and cosmeticians will be exempt of the mandatory use of tills connected directly to the national tax office, but the industry can expect regular tax inspections as before, daily Magyar Idők said on Wednesday. The government made online tills mandatory for retail shops in 2014 to eliminate VAT fraud as part of its efforts to whiten the economy.
Hungary’s Employer Group Chief: High Tax Rates Hamper Proper Wage Reform
- 31 Dec 2015 8:00 AM
- business
Employment and income tax rates need to be reduced because the current tax system is hampering a proper wage reform, the chief secretary of the National Association of Employers and Entrepreneurs (VOSZ) said. Ferenc Dávid said a gross wage of 100,000 forints (EUR 320) costs the employer approximately 128,500 forints factoring in social contributions while the employee’s net wage ends up being ...
Business Assoc Warns Against Keeping Shops Closed On Sundays
- 17 Oct 2015 6:00 AM
- shopping
The Hungarian Association of Shopping Centres (MBSZ) warned on Monday that a proposal to restrict retailers’ opening times on Sundays would have serious consequences. KDNP, a member of the governing alliance, said on Friday that an initiative to prohibit all but family-owned retailers from doing businesses on Sundays, was “in line with the expectations of most people, both on the part of ...
Retail Sales In Hungary Up 4.7% In Aug
- 5 Oct 2015 4:00 AM
- shopping
Retail sales in Hungary climbed by 4.7% in August from the same month a year earlier, preliminary data released by the Central Statistical Office on Monday show. The increase was the same when adjusted for calendar year effects. The unadjusted rise was down from 6.8% in July. Adjusted food sales climbed by 3.7% in August, non-food sales were up 4.6% and fuel sales increased by 7.4%. In ...
Xpat Opinion: Strategy For The Sharing Economy
- 8 Sep 2015 9:00 AM
- business
By Yusaf Akbar: Strategic thinking is at a crossroads. For decades, strategy theory and practice and the pursuit of competitive advantage has been centered on three complementary perspectives: external positioning, internal resources and capabilities and dynamic agility.
Rossmann Magyarország Revenue Reaches HUF 52 bln
- 3 Aug 2015 9:00 AM
- business
The Hungarian unit of German health and beauty products retailer Rossmann saw a rise of 10% in its revenue last year, reaching HUF 52 bln, Rossmann Magyarország told Hungarian news agency MTI. After-tax profit reportedly grew by 50%, reaching HUF 2.3 bln, and the company expects earnings growth to be in the double digits this year, too, MTI said.
Head Of Hungary’s Tax Authority Resigns
- 21 Jul 2015 9:00 AM
- current affairs
Ildikó Vida has resigned from her post as head of Hungary’s tax authority NAV, the economy ministry said. Until a successor is appointed, vice president Árpád Varga will head the authority. Ildikó Vida tendered her resignation on May 20, while relevant laws allow for two months of a notice period. The new tax chief will be selected after key components in a planned reform to the authority have ...
Ad Tax Changes Would Hurt Hungarian Consumer Goods Market
- 12 May 2015 9:00 AM
- business
Retailers could be seriously hurt by changes to the advertisement tax, especially in the consumer goods segment, the National Association of Retailers (OKSZ) reported. The consumer goods market is extremely price sensitive and both retailers and suppliers have a vested interest in curbing price rises, the OKSZ said in a statement.
No Effect Of Sunday Closing On Sales In Hungary, Says NAV
- 10 Apr 2015 9:00 AM
- shopping
Hungarian retail sales have not dropped because of new laws on restrictions to Sunday shopping, the tax office NAV said, citing data from online cash registers in the first quarter. The impact of most shops having to close on Sundays is minimal, as predicted. Customers quickly adjusted to the new measures, NAV told daily Napi Gazdaság.
Mandatory Use Of Online Tills For Hairdressers, Cosmeticians In Hungary
- 3 Jan 2016 8:00 AM
- business
Hairdressers and cosmeticians will be exempt of the mandatory use of tills connected directly to the national tax office, but the industry can expect regular tax inspections as before, daily Magyar Idők said on Wednesday. The government made online tills mandatory for retail shops in 2014 to eliminate VAT fraud as part of its efforts to whiten the economy.
Hungary’s Employer Group Chief: High Tax Rates Hamper Proper Wage Reform
- 31 Dec 2015 8:00 AM
- business
Employment and income tax rates need to be reduced because the current tax system is hampering a proper wage reform, the chief secretary of the National Association of Employers and Entrepreneurs (VOSZ) said. Ferenc Dávid said a gross wage of 100,000 forints (EUR 320) costs the employer approximately 128,500 forints factoring in social contributions while the employee’s net wage ends up being ...
Business Assoc Warns Against Keeping Shops Closed On Sundays
- 17 Oct 2015 6:00 AM
- shopping
The Hungarian Association of Shopping Centres (MBSZ) warned on Monday that a proposal to restrict retailers’ opening times on Sundays would have serious consequences. KDNP, a member of the governing alliance, said on Friday that an initiative to prohibit all but family-owned retailers from doing businesses on Sundays, was “in line with the expectations of most people, both on the part of ...
Retail Sales In Hungary Up 4.7% In Aug
- 5 Oct 2015 4:00 AM
- shopping
Retail sales in Hungary climbed by 4.7% in August from the same month a year earlier, preliminary data released by the Central Statistical Office on Monday show. The increase was the same when adjusted for calendar year effects. The unadjusted rise was down from 6.8% in July. Adjusted food sales climbed by 3.7% in August, non-food sales were up 4.6% and fuel sales increased by 7.4%. In ...
Xpat Opinion: Strategy For The Sharing Economy
- 8 Sep 2015 9:00 AM
- business
By Yusaf Akbar: Strategic thinking is at a crossroads. For decades, strategy theory and practice and the pursuit of competitive advantage has been centered on three complementary perspectives: external positioning, internal resources and capabilities and dynamic agility.
Rossmann Magyarország Revenue Reaches HUF 52 bln
- 3 Aug 2015 9:00 AM
- business
The Hungarian unit of German health and beauty products retailer Rossmann saw a rise of 10% in its revenue last year, reaching HUF 52 bln, Rossmann Magyarország told Hungarian news agency MTI. After-tax profit reportedly grew by 50%, reaching HUF 2.3 bln, and the company expects earnings growth to be in the double digits this year, too, MTI said.
Head Of Hungary’s Tax Authority Resigns
- 21 Jul 2015 9:00 AM
- current affairs
Ildikó Vida has resigned from her post as head of Hungary’s tax authority NAV, the economy ministry said. Until a successor is appointed, vice president Árpád Varga will head the authority. Ildikó Vida tendered her resignation on May 20, while relevant laws allow for two months of a notice period. The new tax chief will be selected after key components in a planned reform to the authority have ...
Ad Tax Changes Would Hurt Hungarian Consumer Goods Market
- 12 May 2015 9:00 AM
- business
Retailers could be seriously hurt by changes to the advertisement tax, especially in the consumer goods segment, the National Association of Retailers (OKSZ) reported. The consumer goods market is extremely price sensitive and both retailers and suppliers have a vested interest in curbing price rises, the OKSZ said in a statement.
No Effect Of Sunday Closing On Sales In Hungary, Says NAV
- 10 Apr 2015 9:00 AM
- shopping
Hungarian retail sales have not dropped because of new laws on restrictions to Sunday shopping, the tax office NAV said, citing data from online cash registers in the first quarter. The impact of most shops having to close on Sundays is minimal, as predicted. Customers quickly adjusted to the new measures, NAV told daily Napi Gazdaság.