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Hungary - Overview and introduction

Overview and introduction

Taxation of international executives

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Hungary

Residents are taxed on worldwide income. Non-residents are taxed on Hungarian-source income only. The highest income tax rate is 15 percent.

The official currency of Hungary is the Hungarian Forint (HUF).

Herein, the host country refers to the country to which the employee is assigned. The home country refers to the country where the assignee lives when he/she is not on assignment.

All information contained in this document is summarized by KPMG Tanácsadó Kft., the Hungarian member firm affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity, based on Act CXVII of 1995 on Personal Income Tax; Act CL of 2017 on Rules of Taxation; the Web site of the Hungarian Tax Authority; Act LII of 2018 on Social Tax; Act LXXX of 1997 on the Eligibility for Social Security Benefits and Private Pensions and the Funding for These Services; Act XCIII of 1990 on Duties; Act C of 1990 on Local Taxes; Act CXXVII of 2007 on Value Added Tax; Act I of 2007 on the Admission and Residence of Persons with the Right of Free Movement and Residence; Act II of 2007 on the Admission and Right of Residence of Third-Country/Territory Nationals and the Website of the Consular Service Hungary.

© 2019 KPMG KPMG Tancsad Kft./KPMG Advisory Kft., a Hungary limited liability company and a member of the KPMG network of independent firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity.  Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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