Tax Benefits
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 giving young people a boost in getting independent and starting their own life.
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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 in 2021, reimbursed early 2022. Are you eligible? How much to expect? Find out below!
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The development tax benefit allows Hungarian SMEs realizing certain investments to decrease their corporate tax by up to 80%. The mechanism is simple: you can reduce your corporate tax by a certain portion of the amount you invested.
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The government recently had to adjust the corresponding rules due to the economic impact of Covid. But what are these changes are and how long will they be in place?
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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, making NÉTAK beneficial for both employer and employee.
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The main goal of our Hungarian salary calculator is to help foreign company owners make an informed decision before deciding to hire workforce, and save costs on this element of business planning.
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While decreasing business volumes caused by the pandemic place an unexpected burden of both employers and employees, various benefits and tax reductions help business owners in Hungary to retain work force while keeping their business afloat.
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When and how to report changes connected to child benefits (family allowance and family tax benefit)
It is your task as a responsible parent to keep track of your and your children’s status and report any changes to the authorities AND to your employer’s accountant to make sure you receive the right amount of child benefits.
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Family allowance is one of the best-known child benefits in Hungary, a general financial support paid directly by the state to all families bringing up children.
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In Hungary, there are many forms of child benefit. The two most important are the family allowance and the family tax benefit. The basis of both is how many children someone takes care of, either as a parent or a guardian, and how many of them are eligible for child benefit.
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