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Based on the latest regulations, Travel to Hungary is possible. Contact Tower now for the details, or gGet the latest news here: Read our Guide
Personal income tax is payable in this case, which is 15%. It is an international principle that the real estate is taxed where it is located, so the income from Hungarian property is taxed in Hungary. Long-term leasing is a tax-exempt activity, so the property can be rented out without VAT.
Short-term leasing is more complex and has a lot of administration. Basically, the income from this activity is 15% PTA, but 18% VAT is payable because this activity is subject to VAT. However, the annual tax revenue of 8 million HUF is eligible for tax refund, which means that no VAT is payable.
As a general rule, the property is taxed where it is located. Therefore, the tax on income from Hungarian property is payable in Hungary.
Yes, personal income tax can be reduced with the total deductible costs. All costs associated with all rental activities are deductible, therefore decreasing your tax base.
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H-1053 Budapest, Egyetem tér 5.
Tel.: +36 1 808 9777
info@tower-investments.com • www.tower-investments.com
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Prices of apartments are indicative only. Pricing and availability should be confirmed with Tower International.
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