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Hungary
Overview
Last reviewed - 15 July 2024Hungary, a landlocked country in Central Europe, is bordered by Slovakia to the north, Ukraine and Romania to the east, Serbia and Croatia to the south, Slovenia to the southwest, and Austria to the west. It has been a parliamentary republic since 1989 and is split into 19 counties, with Budapest as its capital. The official language of Hungary is Hungarian, and the currency is the Hungarian forint (HUF).
PwC Hungary has a staff of 1,157 professionals providing assurance, advisory, and tax services and engaged in EU accession-related consulting, real estate consulting, and valuation. PwC Hungary cooperates with the Réti, Várszegi, and Partners law firm's 60 professionals, creating a task-force of specialists with the expertise required to resolve a complete range of legal services relevant to today's businesses.
Quick rates and dates
| Corporate income tax (CIT) rates | |
|---|---|
| Headline CIT rate (%) |
9 |
| Corporate income tax (CIT) due dates | |
|---|---|
| CIT return due date |
The last day of the fifth month following the last day of the financial year (31 May for a calendar year taxpayer). |
| CIT final payment due date |
The last day of the fifth month following the last day of the financial year (31 May for a calendar year taxpayer). |
| CIT estimated payment due dates |
Paid quarterly or monthly. |
| Personal income tax (PIT) rates | |
|---|---|
| Headline PIT rate (%) |
15 |
| Personal income tax (PIT) due dates | |
|---|---|
| PIT return due date |
20 May following the calendar year of income earning. |
| PIT final payment due date |
20 May following the calendar year of income earning. |
| PIT estimated payment due dates |
Tax estimated/advance payments can be due on a quarterly basis (by the 12th day of the month following the quarter of income earning) for both Hungarian and non-Hungarian sourced income. |
| Value-added tax (VAT) rates | |
|---|---|
| Standard VAT rate (%) |
27 |
| Withholding tax (WHT) rates | |
|---|---|
| WHT rates (%) (Dividends/Interest/Royalties) |
There is no WHT on any outbound payment made to foreign business entities based on the Hungarian domestic legislation. |
| Capital gains tax (CGT) rates | |
|---|---|
| Headline corporate capital gains tax rate (%) |
Capital gains are subject to the normal CIT rate (9%); however, the participation exemption regime may apply. |
| Headline individual capital gains tax rate (%) |
Capital gains are subject to the normal PIT rate (15%). If certain conditions are not met, an additional 15.5% social tax is also payable. |
| Net wealth/worth tax rates | |
|---|---|
| Headline net wealth/worth tax rate (%) |
N/A |
| Inheritance and gift tax rates | |
|---|---|
| Headline inheritance tax rate (%) |
18% (but a preferential 9% rate applies to residential property). Children, siblings, and spouses may receive the inheritance without tax. |
| Headline gift tax rate (%) |
18% (but a preferential 9% rate applies to residential property). Children, siblings, and spouses may receive gifts without tax. |
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