Tax Benefits
CSOK Plus, the 2024 edition of the Hungarian family housing allowance and prenatal loan program is giving a new boost to the local real estate market. Read on for a summary on the program and its latest impact.
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To support people who live with severe health conditions, Hungary offers them a special type of personal income tax benefit. The disability benefit reduces the personal income tax one has to pay, increasing the net salary of employees.
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A new year has started, and again tax regulations are updated and clarified in Hungary. There are no major tax changes this year, but make sure to read our overview and ask your accountant if there is anything you should pay special attention to this year.
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While major taxes do not change very often in Hungary, the system is tweaked every year. Read on to learn about changes to taxes most relevant to employees and HR, such as fringe benefits, the social contribution tax, and taxes on various types of gifts.
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While personal income tax in Hungary is 15% for everyone, various tax benefits may be applied to that based on age, marital status, and other circumstances. Get an overview of the most important tax benefits below so you will know when you or your employees can get more out of your gross salary.
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Foreign employees living in Hungary based on a work permit are eligible for the same tax benefits as Hungarian citizens. This applies to child benefits too, which might be relevant if the family of an employee is also in Hungary on residency for family unification.
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When planning for salaries in Hungary, you should keep in mind the various tax benefits available to employees. Since they increase net salaries without extra costs to the employer, they also function as incentives for employing certain demographic groups. Tax benefits and gross salary The tax benefits available in Hungary apply to everyone who is […]
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New opportunity to save on taxes in Hungary: If your Hungarian company does most of its business in foreign currencies, you can avoid exchange fees by paying your taxes directly in EUR or USD. The new rules apply to TAO and HIPA (the regular corporate tax and the local business tax), and will be relevant …
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EKHO is short for Simplified Tax and Contribution (“Egyszerűsített Közteherviselési Hozzájárulás”) in Hungary. It is a favorable tax regime aimed at creators in various fields intended to promote Hungarian culture. Learn its basics, and find the list of professions that can make you eligible. EKHO is for natural persons The beneficiaries of the EKHO tax …
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