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Taxation

Hungary - Taxation


Hungary has a progressive personal taxation system, with individual taxation rates currently being between 20% and 40% of income. Corporation tax is fixed at 16%.

Foreign nationals living and working in Hungary are required to register as a taxpayer there. Those who are permanently resident in Hungary are taxed on any income generated in Hungary or overseas, while foreign residents who are living and working on a temporary basis in Hungary are only taxed on their Hungarian income. Criteria used in defining permanent residence for taxation purposes include the usual family place of residence, property ownership and whether the taxpayer spends more than 183 days per year in Hungary.

Hungary has Double Taxation treaties with many other countries, which mean that tax paid in one country can be offset against any tax payable in the other.

Retirement pensions are not liable to tax in Hungary, whether they are paid in Hungary or from abroad.

Employees with no other income have their tax deducted direct from salaries on a monthly basis. Those with additional income, the self-employed and people with overseas-generated income are required to make advance payments of tax and to complete a tax return at the end of the financial year, at which point they must pay any additional tax due, or are reimbursed if their advance payment exceeded the amount of tax actually payable.

Value Added Tax is payable at a standard rate of 20%, with reduced rates of 15% or 5% on certain items such as food, textbooks and medicines.

Local government offices are responsible for the collection of local rates.


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Expat Health Insurance Partners


Bupa Global

At Bupa we have been helping individuals and families live longer, healthier, happier lives for over 60 years. We are trusted by expats in 190 different countries and have links with healthcare organisations throughout the world. So whether you're moving abroad for a change of career or a change of scene, with our international private health insurance you will always be in safe hands.

Cigna

Cigna has worked in international health insurance for more than 30 years. Today, Cigna has over 71 million customer relationships around the world. Looking after them is an international workforce of 31,000 people, plus a network of over 1 million hospitals, physicians, clinics and health and wellness specialists worldwide, meaning you have easy access to treatment.