As from 1 January 2014 the basic minimum wage in Hungary increased to 101,500 forints (EUR 338) per month, or 23,360 forints per week, or 4,670 forints per day, or 584 forints per hour The minimum wage for skilled workers is set to 118,000 forints (EUR 393) per month, or 27,160 forints per week, or […]
Taxes payable by persons renting real estates
Obligation to register, tax number If a person in Hungary leases out property within the framework of an activity in compliance with the Act of VAT, this activity may be pursued as of August 16, 2010 without a tax number. Value Added Tax As a rule, the let of immovable properties, with the statutory exceptions, […]
General tax rates in 2014
The following general tax rates are applicable in Hungary. Corporate income tax: 10% rate up to to the first HUF 500 million of taxable income.above the tax rate is 19% VAT: standard rate: 27%, preferential rates: 18% and 5% Local business tax: 2% imposed on turnover or gross margin Personal income tax: 16% Social security […]