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    • Grant Thornton in Hungary

          • The key to success is a partner with comprehensive knowledge and many years of experience. Our ambition is to serve dynamic organizations and we understand ourselves as specialists for the Central European region.

            Being a member firm of Grant Thornton enables us to represent the interests of our clients even outside of Central Europe. We think that the key to success is to have partners with comprehensive knowledge and many years of experience.

            Our consultants are specialists for the Central European region and our firm has strong links with Grant Thornton member firms in the region.

            Over the past years, Grant Thornton has built a strong position on the Hungarian market as a provider accounting, payroll, valuation and Corporate Finance services.

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            • Mandatory audits and voluntary audits of single-entity and consolidated financial statements
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            • Audits of foundations
            • Due diligence audits
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            • Journal entry of ongoing business transactions and computer-based record-keeping
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            • Full-scale payroll services, calculation of salaries, taxes and contributions to be paid
            • Management of payroll reports, online sending of pay slips to employees, with password protection
            • Preparation and filing of data disclosures, returns and notifications to the authorities
            • Administration of new and leaving employees
            • Monitoring and administration of leaves and other absences
            • Preparation of employer’s certificates, tax certificates
            • Administration of terminations of employment, resignations, dismissals
            • Salary payments by bank transfer
            • Completion of tax and social security transfer orders
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          • Labour Administration

            • Payroll preparation administration: support for the payroll accounting activities, pre-processing of lost working time, vacation days, absences due to illness. Collecting the input data for and preparing them for payroll accounting.
            • Tasks arising in connection with working time banking system, monitoring the issuance of rest periods and ensuring compliance with the rules of maximum working time.
            • Preparing, updating and modifying of HR personnel materials. Drawing up the documentation necessary for terminations of employment.
            • If required, labour registration tasks, requesting social security and tax identification numbers.
            • Conducting internal audits at regular intervals, making recommendations for eliminating any deficiencies identified.

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            • Designation of a liaison person between internal financial departments and payroll accounting.
            • Providing opinions with respect to dubious situations, being continuously available for consultation in HR-related questions.

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            • Development of HR processes, structural systematisation, overview and due diligence of positions and work organisation, organisational development consultancy.
            • Establishing compensation systems, with the examination of tax and expense consequences, as well as internal policies Creating cafeteria and grade systems.
            • Labour market consultancy, supporting recruitment and selection, from the identification of labour demand needs to implementing the onboarding process.
            • Surveying the needs for, as well as creating internal policies contributing to more efficient operations.
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          • Fixed Asset Valuation:

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          • Controlling

            • Interim financial management
            • Reviewing of financial systems and processes
            • Design, implementation and operation of controlling and reporting systems
            • Management of the introduction of business intelligence (BI) and enterprise resource planning (ERP) systems
    • Accounting and Tax automation
    • Transfer Pricing Advisory

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NewsThe wage subsidy extended for the month of April

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The wage subsidy extended for the month of April

2021. April 15., Thursday

The wage subsidy extended for the month of April in vulnerable economic sectors

 

By way of Government Decree 147/2021. (III. 27.), the Government has extended the deadline for the submission of the application for the aid in the sectoral wage subsidy programme.

The new application deadline is 30 April 2021. In addition, in response to the needs of the sectors concerned, it is now available for the period ending in April 2021 (also in a lump sum).

 

The submission of an application by a new applicant

The aid is available for the period between November 2020 and April 2021, or in case of accommodation services as the main activity, from December 2020 to April 2021.

Different rules are applicable to employers affected by the restrictions from 8 March 2021 (those pursuing the main activities indicated by the code TEÁOR between 26 and 56) in terms of the duration and extent of the aid, as well as the submission of the application.

In case of these employers, the application may be submitted from 8 March 2021 to 30 April 2021, and the aid is available for the months of March and April 2021 (even one block).

 

The procedure of the extension in case of an earlier applicant

If the employer’s application had been submitted by 31 March 2021, it will automatically be extended until the end of the subsidy period; the aid may be awarded for the entire 6 months (for 5 months in the case accommodation services as the main activity, or for 2 months in case of those affected by the restrictions introduced from 8 March), in accordance with the rules governing advances.

 

Obligation of continued employment

The employer acknowledges that the aid may be provided if the employer undertakes that the employment of the worker concerned will not end until the end of the month following the last day of the aid period, until 31 May 2021, by way of termination by the employer or by mutual agreement.

If the worker’s fixed-term employment contract expires before 31 May 2021, the application for the aid must indicate that the parties intend to continue the employment until at least 31 May 2021.

Therefore, an amendment of the employment contract extending its term until at least 31 May 2021 must also be submitted to the Government Office at the time of the application.

 

The process of settling accounts

A settling of accounts must be submitted together with the calculation sheet and annexes by the end of the second month following the last day of the aid period, whereby the employer must6 also certify that it was entitled to the aid disbursed to it.

The accounting must be drawn up in monthly breakdowns on separate settlement sheets for each month, even if the accounting for several months are submitted at the same time.

 

 

If you need any assistance in connection with the above or have any further questions, please do not hesitate to contact our experts.

Contact our expert

Zsófia Vajna HEAD OF HUMAN CAPITAL SERVICES
Budapest +36 30 783 7103
zsofia.vajna@hu.gt.com
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