Bank A/C in Hungary-Essential or not?

[Madangan]

Hi,
Wonder if anyone can tell me if there is any legal requirement to have a bank a/c in Hungary if you own and are renting out a property there. At the mo I have my net rent electronically transferred to my a/c in Ireland by the agent. But a few people have told me they were told they had to have a bank a/c in Hungary. I dont really want to set this up unless necessary. Anyone know actual position?
Also my agents are doing the tax for me and have sent me a copy of last years return to the taxman over there. But someone else told me that it was essential that I sign the return myself or it might not be valid??

All advice appreciated.

 

[budapest]

If you signed a proxy with your accountant, then I don't see there being a problem in him paying taxes on your behalf. If you bought as a private individual, then there is no legal obligation to have a local account, but it usually saves hassle.

 

[MaxIII]

I would also be interested to find out the true situation regarding accounts - different people say different things - sure can be confusing.

Who is your accountant? I am looking for a good one in Hungary who isnt going to rip me off.

Regards,


Max

 

[Madangan]

I would also be interested to find out the true situation regarding accounts - different people say different things - sure can be confusing.

Who is your accountant? I am looking for a good one in Hungary who isnt going to rip me off.

Regards,


Max

I dont have one exactly or maybe I do? How bad does that sound! My agent does the return or has someone do it for me for a small additional fee..I cant remember without checking files but it didnt seem exorbitant(until you add up all the bits n pieces). I only got the place rented in December last year but I have seen the return and Im due a refund...whahayy from the hungarian taxman,also the agent deducts tax each quarter and send it into the taxman so it seems that hes keeping me on the straight and narrow so far..I sincerely hope so anyway.

There is an earlier thread on this forum about tax which I found illuminating,chek it out.

 

[lee-m]

bank account is needed (and required) if you own the property as a company, as a private individul there is no obligation to have a bank account in budapest.
I am not sure about the tax return, as far as I remember you need to sign them and post it back to your agent whi will in turn submit them to the APEH (hungarian tax authority)