To do this, of course, we must also have state-sponsored savings.

The Hungarian state currently supports three forms of savings, during which savers can receive a 20 percent tax credit on their own payments. These are pension insurance, retirement savings accounts (NYESZ), and various voluntary funds. In the case of pension insurance, the annual maximum is 130,000 HUF, in the case of NYESZ 100,000 HUF and in the case of voluntary funds 150,000 HUF. Anyone who takes full advantage of the benefits of pension insurance and some kind of voluntary fund can receive a tax credit of exactly 280,000 guilders a year from the state – Bankmonitor.hu summarized the information.

But how do I know how much PIT I pay?

The condition of the credit is that the saver pays the personal income tax in the given year. Those who did not pay PIT in a given year, such as cat taxpayers, or those who are completely exempt from PIT due to the family tax credit, are not eligible for a tax refund.

Personal income tax in 2020 is 15 percent of gross salary, which is generally paid by the employer.

Of course, this is the case without the family tax credit for those who take advantage of the opportunity, the PIT discount is 10,000 HUF for raising 1 child, 20,000 HUF per person for raising 2 children (a total of 40,000 HUF) and 33,000 HUF for 3 children that is, a total of 99,000 HUF per month. Full amounts can only be used if each child qualifies as a “dependent beneficiary.” The following table shows how much PIT families with children pay, also taking into account the family tax credit.



The number of independent publishing offices of power is steadily declining, and those that still exist are trying to stay afloat with a growing headwind. At HVG we persevere, we do not give in to pressure and we bring national and international news every day.

That is why we ask you, our readers, to stand by us, support us, join our membership and renew it!

And we promise to keep doing our best for you in all circumstances!