{"id":3898,"date":"2017-09-08T07:49:14","date_gmt":"2017-09-08T06:49:14","guid":{"rendered":"https:\/\/www.conferencecall.co.uk\/blog\/?p=3898"},"modified":"2017-09-12T22:34:13","modified_gmt":"2017-09-12T21:34:13","slug":"exporting-to-hungary-everything-you-need-to-know","status":"publish","type":"post","link":"https:\/\/www.conferencecall.co.uk\/blog\/exporting-to-hungary-everything-you-need-to-know\/","title":{"rendered":"Exporting to Hungary &#8211; everything you need to know"},"content":{"rendered":"<p>If you&#8217;re looking for a trading base for the Central and Eastern European (CEE) market, then Hungary could be the ideal location, as it&#8217;s located right in the very heart of the Carpathian basin. Hungary is the UK&#8217;s third largest export market in the CEE region &#8211; 1.9% of Hungary&#8217;s imports come from the UK, and\u00a0bilateral trade in goods and services is worth around \u00a31,849 million.<\/p>\n<p>If you want to start trading \u00a0in the CEE region, here&#8217;s everything you need to know about exporting to Hungary&#8230;<\/p>\n<p><!--more--><\/p>\n<p>The\u00a0<abbr title=\"Central and Eastern Europe\">CEE<\/abbr>\u00a0region is full of potential for British businesses &#8211; an export market worth over \u00a318 billion, with goods exports doubling over the past decade, and services exports &#8211; which account for over \u00a34 billion &#8211; trebling.<\/p>\n<p>The UK is the fifth largest investor in Hungary, mainly in the retail, telecommunications and professional services sectors.<\/p>\n<h2>What are the pros and cons of exporting to\u00a0Hungary?<\/h2>\n<p>The strengths of the Hungarian\u00a0market include:<\/p>\n<ul>\n<li>strategic location in the heart of Europe<\/li>\n<li>well developed transport network<\/li>\n<li>open economy<\/li>\n<li>good infrastructure and communications<\/li>\n<li>investment incentives<\/li>\n<\/ul>\n<p>And if you\u2019re thinking of exporting to Hungary, the advantages for UK business, are:<\/p>\n<ul>\n<li>English accepted as a business language<\/li>\n<li>western style business culture<\/li>\n<li>over \u00a328 billion European Union (<abbr title=\"European Union\">EU<\/abbr>) funding between 2014 and 2020<\/li>\n<li>UK \u2018brand\u2019 viewed positively<\/li>\n<\/ul>\n<p>Although Hungary has an increasingly westernised business culture, a UK company doing business there can encounter the following difficulties:<\/p>\n<ul>\n<li>bureaucracy<\/li>\n<li>corruption<\/li>\n<li>language difficulties, especially with smaller companies and outside Budapest<\/li>\n<li>legal barriers at public procurement<\/li>\n<\/ul>\n<p>And if you&#8217;re thinking of setting up out there or exporting, make sure\u00a0your business takes the necessary steps to comply with the requirements of the <a href=\"https:\/\/www.gov.uk\/government\/publications\/bribery-act-2010-guidance\">UK Bribery Act<\/a>.<\/p>\n<p><iframe src=\"https:\/\/www.youtube.com\/embed\/qzi3Upxcfq8\" width=\"600\" height=\"355\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<div>If you\u2019re doing business in Hungary, you\u2019ll need a reliable and cost-effective <a href=\"https:\/\/www.conferencecall.co.uk\/conference-call\" target=\"_blank\" rel=\"noopener\">conference call<\/a>\u00a0provider to help keep in touch when travelling isn\u2019t an option. Here\u2019s\u00a0<em><a href=\"https:\/\/www.conferencecall.co.uk\/blog\/how-to-set-up-a-conference-call-between-hungary-and-uk\/\" target=\"_blank\" rel=\"noopener\">How to set up a conference call between the UK and Hungary<\/a>.<\/em><\/div>\n<div>\n<p>And remember, you can now screen share and video conference, using <a href=\"https:\/\/www.conferencecall.co.uk\/blog\/now-can-screen-share-conference-calls\/\" target=\"_blank\" rel=\"noopener noreferrer\">Crankwheel<\/a>.<\/p>\n<div>\n<h2>How does tax work in Hungary?<\/h2>\n<\/div>\n<p>If your business is supplying goods or services to the Hungarian market, it must register for and charge\u00a0<abbr title=\"Value Added Tax\">VAT, though s<\/abbr>mall businesses can choose to be\u00a0<abbr title=\"Value Added Tax\">VAT<\/abbr>\u00a0exempt under certain conditions.<\/p>\n<p>There are four rates of \u00a0<abbr title=\"Value Added Tax\">VAT<\/abbr>\u00a0in Hungary:<\/p>\n<ol>\n<li>A standard rate of 27%<\/li>\n<li>18% for central heating, bakery and dairy products, and providing commercial accommodation services<\/li>\n<li>5% for some goods and services such as certain pharmaceutical products, books and daily papers<\/li>\n<li>0% for some transactions such as radio, television, postal and financial services.<\/li>\n<\/ol>\n<p>Income tax for individuals is charged at 15%, and for the full lowdown on corporation tax, check out the\u00a0<a href=\"http:\/\/en.nav.gov.hu\/\" rel=\"external\">National Tax and Customs Administration of Hungary<\/a>\u00a0(NTCA) website.<\/p>\n<h2>How will I be affected by customs in Hungary?<\/h2>\n<p>The internal EU single market allows for the free movement of goods and services without any import duties being applied, and testing is mandatory for some imported goods, especially technical and electrical equipment.<\/p>\n<p><a href=\"https:\/\/www.conferencecall.co.uk\/conference-call\"><img decoding=\"async\" class=\"alignnone wp-image-1777 size-full\" src=\"https:\/\/www.conferencecall.co.uk\/blog\/wp-content\/uploads\/2015\/05\/conference-call-banner.jpg\" alt=\"\" width=\"750\" height=\"118\" \/><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>If you&#8217;re looking for a trading base for the Central and Eastern European (CEE) market, then Hungary could be the ideal location, as it&#8217;s located right in the very heart<\/p>\n<div class=\"more-link-wrapper\"><a class=\"more-link\" href=\"https:\/\/www.conferencecall.co.uk\/blog\/exporting-to-hungary-everything-you-need-to-know\/\">Read More<span class=\"screen-reader-text\">Exporting to Hungary &#8211; everything you need to know<\/span><\/a><\/div>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[22,2,7],"tags":[23,3,24],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Exporting to Hungary | ConferenceCall.co.uk blog<\/title>\n<meta name=\"description\" content=\"Just under 2% of Hungary&#039;s imports come from the UK - if you want to add to that trade, here&#039;s all you need to know about exporting to Hungary.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.conferencecall.co.uk\/blog\/exporting-to-hungary-everything-you-need-to-know\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Exporting to Hungary | ConferenceCall.co.uk blog\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.conferencecall.co.uk\/blog\/exporting-to-hungary-everything-you-need-to-know\/\" \/>\n<meta property=\"og:site_name\" content=\"ConferenceCall.co.uk blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/pages\/Conference-Call-UK\/178511498997826\" \/>\n<meta property=\"article:published_time\" content=\"2017-09-08T06:49:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-09-12T21:34:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.conferencecall.co.uk\/blog\/wp-content\/uploads\/2017\/09\/Hungary-flag.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Les Roberts\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@LesRobertsMedia\" \/>\n<meta name=\"twitter:site\" content=\"@ConfCallUK\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Les Roberts\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.conferencecall.co.uk\/blog\/exporting-to-hungary-everything-you-need-to-know\/\",\"url\":\"https:\/\/www.conferencecall.co.uk\/blog\/exporting-to-hungary-everything-you-need-to-know\/\",\"name\":\"Exporting to Hungary | ConferenceCall.co.uk blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.conferencecall.co.uk\/blog\/#website\"},\"datePublished\":\"2017-09-08T06:49:14+00:00\",\"dateModified\":\"2017-09-12T21:34:13+00:00\",\"author\":{\"@id\":\"https:\/\/www.conferencecall.co.uk\/blog\/#\/schema\/person\/fd51b09e17d75360ba18197c2c1c535b\"},\"description\":\"Just under 2% of Hungary's imports come from the UK - if you want to add to that trade, here's all you need to know about exporting to Hungary.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.conferencecall.co.uk\/blog\/exporting-to-hungary-everything-you-need-to-know\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.conferencecall.co.uk\/blog\/exporting-to-hungary-everything-you-need-to-know\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.conferencecall.co.uk\/blog\/exporting-to-hungary-everything-you-need-to-know\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.conferencecall.co.uk\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Exporting to Hungary &#8211; 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