The cafeteria system is changing a lot

By: Trademagazin Date: 2023. 11. 03. 11:25

With the recent changes in the tax laws, gift giving comes to the fore. In order to plan cafeteria benefits in 2024, the tax laws of next year will be amended, and some rules may enter into force in the Personal Income Tax Act as early as December 1, if the Parliament accepts the proposals in this direction – according to the report of hrportal.hu.

László Fata, the benefits expert, emphasized that one of the significant changes affects employers: the tax of elements with favorable tax conditions will have to be declared and paid quarterly.

An important change for employees is that, while currently employers can only give a gift of small value once a year, which does not exceed 10 percent of the minimum wage, from 2024 they will be able to offer similar benefits to employees (and even to their close relatives) three times a year. As a result, employers have the opportunity to issue gifts such as Women’s Day, Christmas or school-beginning gifts with favorable tax conditions.

At the beginning of October, a government decree introduced new rules, according to which, from November 16, wine products can be given tax-free in the context of catering for representational and non-representational purposes, as well as as business gifts and gifts of low value. As of December 1, these rules would be in effect as a tax-free allowance in the annex to the Personal Income Tax Act.

Related news