TEÁOR08

TEÁOR08 is the classification system for economic activities in Hungary. It is the Hungarian version of the NACE (Nomenclature of Economic Activities) classification system, which is used across the European Union. TEÁOR08 is based on the NACE Rev. 2 classification and was introduced in 2008, hence the '08' in its name. The primary purpose of TEÁOR08 is to standardize the statistical classification of economic activities, ensuring comparable data across different sectors and countries within the EU. It is used by the Hungarian Central Statistical Office (KSH) for statistical purposes, including data collection, analysis, and reporting on the Hungarian economy. Businesses in Hungary are required to register with a TEÁOR08 code that accurately reflects their primary economic activity. This classification influences various aspects of business operations, including taxation, licensing, and access to certain funding or support programs. The system is hierarchical, with broad sections divided into divisions, groups, and classes, allowing for detailed categorization of economic operations.