Starting from 2022, people under 25 do not pay personal income tax in Hungary. The new regulation aims at making the employment of young people more attractive to employers, while…
Tag: Personal Income Tax
Worldwide inflation due to the pandemic expected to decrease in 2022
The ongoing coronavirus pandemic has had dire effects on world economy, creating bottlenecks in supply chains, rearranging the labor market, and increasing inflation, with the effects expected to be felt…
Personal income tax refund for families in 2022
The personal income tax refund for families, first floated in June, has recently been finalized. Anyone raising children in Hungary can expect a refund on their personal income tax paid…
NÉTAK: the tax benefit of mothers of four or more
NÉTAK gives mothers of four or more children an exemption from paying personal income tax. They will earn more while the employer’s costs related to their salary do not increase,…
Tax returns in Hungary: the essentials
If you live and work in Hungary, you must file tax returns in Hungary every year. With the 20 May deadline for filing your tax returns for the previous calendar…
Why your tax residency may differ from your address
Taxation is simple if you only have income where you live. However, it gets complicated when you start making money in two countries. By determining your tax residency, you can…