Vállalkozás

Vállalkozás is a Hungarian term that refers to a legal entity engaged in economic activity with the intent of producing goods or services for distribution and profit. The concept encompasses a wide range of organizational forms, from sole proprietorships and limited liability companies to joint-stock corporations and cooperatives.

The legal framework governing vállalkozás in Hungary is primarily defined by the Companies Act (Ltd. Laws, Act C. of 2002) and complemented by specific legislation on trading, taxation, and labor. Companies must register with the Hungarian Court of Registration, publish their articles of association, and obtain tax identification numbers. Corporate governance is regulated through a board or a single managing director, depending on the entity type, and shareholders’ rights are protected by statutory provisions.

Financial reporting for a vállalkozás is required in either consolidated or individual accounts, prepared in accordance with the Hungarian Accounting Standards (HGB), which are largely aligned with International Financial Reporting Standards (IFRS) for larger entities. Companies must also adhere to tax obligations such as corporate income tax, value added tax, and, where applicable, social security contributions for employees.

Operation guidelines emphasize transparency, risk management, and compliance with anti-corruption laws. The Hungarian government promotes entrepreneurship through incentives like tax credits, reduced social security contributions for new startups, and support programs administered by the Hungarian Investment Promotion Agency. These initiatives aim to stimulate innovation, foreign investment, and job creation across diverse sectors of the economy.