sell your products in Hungary

Hungary, located in Central Europe with a population of nearly 10 million people, successfully transitioned from a centrally planned economy to market-based since 1989.

It is a member of the OECD (1996), NATO (1999), the European Union (2004) and the Schengen Area (2007) with a per capita income of 2/3 of the EU-28 average and a total GDP of 139,8 billion EUR (2008). Hungary boasts a strategic location with access to EU markets, a highly skilled and educated workforce and a sound infrastructure attractive to international companies.

9,6

million population

% population active on the internet

% VAT – high tax burden

basic information about hungary

E-commerce share of retail
Data will be added.
Accounting
The Hungarian fiscal year starts on the 1st of January and ends on the 31st of December. Companies must annually produce a balance sheet, a profit and loss account and an appendix. The general deadline for submitting financial statements (other than consolidated financial statements) is the last day of the 5th month following the balance sheet date of the fiscal year, which harmonizes the deadline for submitting the statements with the tax return filing date for calendar-year companies. The company must store all associated documents for 8 years.
Taxation in Hungary
The basic VAT (in Hungarian: AFA: Általános Forgalmi Adó) is 27%, reduced 5% on pharmaceutic goods and equipment, books, newspapers, remote heating services, certain diary products, fish for consumption, home pig-slaughtering products. Some products such as milk, certain dairy products, products from flour, corn and starch fall under 18 % VAT.
Other excise duties: mineral oils, alcohol and alcoholic beverages (containing over 1,2%), beer, wine, sparkling and non-sparkling fermented beverages, alcoholic intermediate products, tobacco products, energies (electricity, natural gas and coal).
Financial statement duties
The Hungarian accounting system is based on the Hungarian Accounting Law that specifies Hungarian accounting standards. Being a EU member, the local law is in accord with the EK directive no. 1606/2022 requiring IFRS standards for a consolidated financial statement of specified companies. Hungarian accounting standards are complemented by specific government directives for banks, insurance companies, brokers, investement funds, pension funds and non-profit organizations. Since the 1st of January 2018, all companies and financial institutions must prepare an unconsolidated financial statement according to IFRS. Due to the difference between long-term and short-term debts, the statement is divided into liability accounts based on constant capital and liabilities based on debts. The balance sheet with preference to global production data and cost classification can be adjusted to highlight nature or function.
Chamber of Hungarian Auditors:
Accounting news:
- https://www.adoforum.hu/
- https://www.rsm.hu/ideas-and-insights/blog/accounting
Certification and Auditing
Hungarian sources on taxes and accounting:
Source: NordeaTrade.com

internet market overview

The Hungarian government places high priority on developing the e-commerce sector, realising its potential for driving Hungary's productivity and innovation. Even though e-commerce had a slow start in the country, it has been booming recently. The most advanced segment is e-banking and there are currently 6,1 million active online shoppers.

3,9

million people shopping online

% e-commerce growth rate

6,2

% online share of retail

The strongest players in e-commerce

Arukereso.hu is the leading comparison and shopping advisor on the Hungarian market. The biggest local e‑shops are Emag, Extreme Digital, Media Markt, Alza, Mall and Euronics.

E-commerce revenue

E-commerce revenue is currently around 1,5 bil. EUR annually and is expected to have a 1,83 billion EUR total turnover in 2019 thus steadily growing since 2010 with an estimated growth of 7,3%.

Popular payment types

The most popular payment choice in Hungary is online payment by card.

Internet penetration

Hungary has at least 8,588,776 internet users (as of Dec/2018) with a 89.0% penetration (InternetWorldStats.com). 62% of Hungarians shop online (EU average is 69%).

Favorite shopping categories

I want to expand

our platform Árukereső.hu

Árukereső.hu is a Hungarian market-leading price comparison website with nearly 3 400 listed online stores and 14 000 000 new products. The mission of our company is to make products and prices easily and quickly comparable allowing customers to choose the best offer based on their criteria. We also aim to popularize economical and environment-friendly online shopping by creating positive shopping experiences.

We're not reactive, we lead the change. Our team is constantly working on innovations for enhancing both user experience and our Partners' satisfaction.

5,2

million users per month

3,5

thousand e‑shops on the platform

% platform growth rate

how to get listed on Árukereső.hu

Translate your e‑shop to Hungarian language

The main condition is to have a shop in the Hungarian language.

Register on our platform

You can register on registration page (in Hungarian) or contact us and we will process the registration for you. Prepare your XML feed as required in the XML feed specification.

Let us help you to use the maximum of our platform

We highly recommend purchasing of Trusted shop badge, especially for the new shops entering the market. It is important to show that you are a trustworthy shop. Do you want to maximize your sales? Join our bidding and marketplace. More information about our services

We can also offer custom data reports of the categories you are interested in. Just contact us below.

need a hand? contact us

Samira Berecz

0036 1 782 2891

berecz.samira@arukereso.hu