Hungary Private Client Tax - IntroductionAs Hungary continues its journey towards modernization, private clients must grapple with intricate tax considerations outlined in the Act of CXVII of 1995 on Personal Income Tax. This is the main legislation dealing with personal income tax.
Hungary Tax ResidenceLike in many jurisdictions, determining tax residency in Hungary involves some care. The following are likely to be resident for tax purposes in Hungary:
- Hungarian citizens,
- EEA nationals spending at least 183 days in Hungary, and
- Third-country nationals with specific residence statuses fall under Hungarian tax residency.