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New Tax Regulations in Hungary (Tax & Fiscal Alert)

17 Jun 2013

Today the Government has introduced some tax changes which should have affect the companies who are operating in Hungary and to private individuals, who have investments in Hungary:

1.     Health contribution on interest incomes

The Company would like to levy 6% health contribution on interest incomes earned by private individuals. This should mean that in addition to the 16% personal income tax the total tax and contribution liability on this income would be 22%. Currently there are no detailed information regarding this matter, however this should have effect to the banking transactions of the individuals


2.      
Telecommunication tax

The telecommunication tax, which should be paid by companies will be increased from 2 HUF to 3 HUF/minute, the upper level of the tax will be increased from HUF 2,500 to HUF 5,000.


3.    
Transaction duty

The transaction duty (which should be paid by financial institutions regarding banking transactions) will be increased.

The duty regarding cash withdrawals (e.g. cash withdrawal from bank ATM) will be increased from 0,3 % to 0,6% (without upper limit – the previous limit of HUF 6,000 will be cancelled).
The transaction duty (when there is a transfer between ban accounts) will be increased from 0,2% to 0,3% (with the upper limit of HUF 6,000).
As further details regarding these matters are not published yet (date, when the new regulations will be effective, temporary period rules) we will give you more information as soon as the Parliament will accept the changes.

 

Download – Tax & Fiscal Alert


Contact:

dr. Kádár Zoltán
Tax manager
zoltan.kadar@accace.com
Tel: +36 307 779 549

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About Accace

Originally established in Central and Eastern Europe in 2006, Accace ranks among the leading outsourcing and consultancy providers in the region. Engaging over 600 experts, we have vast experience with handling small to large scale, multi-country outsourcing projects and providing a comprehensive range of our services to over 2,000 customers.

About Accace Circle

Accace operates internationally as Accace Circle, a co-created business community of like-minded BPO providers and advisors who deliver outstanding services with elevated customer experience. Covering almost 40 jurisdictions with over 2,000 professionals, we support more than 10,000 customers, mostly mid-size and international Fortune 500 companies from various sectors, and process at least 170,000 pay slips globally.

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