Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Hungarian Tax Agency Urges Employees to Declare Tax Allowances for January

Hungarian Tax Agency Urges Employees to Declare Tax Allowances for January

The National Tax and Customs Administration of Hungary (NAV) highlights the benefits of early online declarations to ensure tax allowances are reflected in January salaries.
As the new year approaches, the National Tax and Customs Administration of Hungary (NAV) is urging employees to take proactive steps in declaring their eligibility for various tax allowances before the first payroll of January.

In a recent statement, NAV underscores the simplicity and speed of making these declarations online, which allows employers to incorporate applicable tax benefits into January salaries.

These tax allowances are significant for a wide range of eligible individuals, including families with children, newlyweds, mothers raising four or more children, women under the age of 30, individuals under 25, and those suffering from specific diseases.

NAV highlights the utility of its Online Form Filling Application (ONYA) in facilitating these declarations.

The application takes advantage of data already recorded in the NAV’s databases by offering pre-filled details to streamline the process.

Those who begin earning income from employment in 2024 or thereafter will also find that NAV suggests relevant employer data pertaining to their wage income.

Beginning January 16, 2025, employees can access and submit their tax pre-declaration forms using authorized electronic identification methods such as Ügyfélkapu+ or the DÁP mobile app.

Once submitted electronically, NAV automatically forwards these declarations to the employee’s employer, with the process being trackable via notifications in the ONYA system.

Of note, the tax allowance for individuals under the age of 25 continues to be processed automatically, requiring no action from the employee or employer.

For those eligible for allowances such as the four or more children mothers’ allowance, personal allowance, or the newlyweds’ allowance, employers can continuously account for these allowances based on previous declarations, unless a new declaration is made.

Thus, beneficiaries need not submit new tax pre-declarations annually to avail themselves of ongoing benefits.

Additionally, an increase in the family tax allowance will be implemented in two phases, with a 50% increase set for July 2025.

Consequently, parents with one child will see their allowance increase from 10,000 to 15,000 forints, two children from 40,000 to 60,000 forints, and families with three or more children will receive an increase from 33,000 to 49,500 forints per child.

PwC Hungary also echoes NAV's advisories, emphasizing the importance of January readiness in declaration filings to take advantage of these allowances.

For instance, in the case of a family with two children, either a 266,660-forint tax base allowance or the declaration of two dependent beneficiaries can lead to a tax saving of 40,000 forints monthly from the beginning of the year.

In conclusion, NAV’s digital platforms and early year preparation streamline the process for Hungarian employees to maximize their entitled tax benefits effectively.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
EU and Canada Unveil Retaliatory Tariffs in Response to U.S. Steel and Aluminum Duties
Romania Excludes Prominent Presidential Contender Călin Georgescu from Election Repetition
Russian Teacher Under Investigation After Explicit Content Incident in Classroom
Poland Plans Comprehensive Military Training for All Adult Males Amid Enhanced Defense Initiatives
Lithuania Withdraws from Cluster Munitions Convention Amid Security Concerns
Trump Discovers It Simpler to Negotiate with Russia Compared to Ukraine During Ongoing Conflict
Macron Cautions Against Growing Russian Aggression as U.S. Support for Ukraine Changes
EU Member States Endorse Gradual Rollout of Entry/Exit System
President Trump Indicates Willingness to Reestablish Relations with Ukraine in Light of Recent Tensions
Europe Investigates the Use of Frozen Russian Assets to Aid Ukraine
Macron Calls on Europe to Bolster Defense in Light of Russian Threats and Possible U.S. Withdrawal
Germany Supports Looser EU Fiscal Policies to Boost Defense Expenditures
Pope Francis's Health Update: Vatican Reports Stable Condition
MPs from Various Parties Express Worry About Proposed Reductions to the UK Aid Budget
U.S. Creates Strategic Cryptocurrency Reserve, Leading to Market Upsurge
Zelenskyy Convenes with UK Prime Minister Starmer in Light of Strains with the US
Here, unelected President Zelensky meets with two top American democratically elected officials who are neither stupid, nor bribed, nor blind
Pope Francis Admitted to Hospital for Pneumonia Faces Breathing Emergency
Andrew and Tristan Tate Leave Romania During Ongoing Legal Matters
Katy Perry to Participate in All-Female Space Mission with Blue Origin
US President Asserts NATO Membership for Ukraine Is Off the Table
Bosnian Serb Leader Sentenced to One Year in Jail for Defying International Envoy
Apple Resolves iPhone Dictation Bug That Linked 'Racist' to 'Trump'
Trump Confirms Zelensky’s Visit Amid U.S.-Ukraine Mineral Deal Talks
Proposal Introduced for $250 Bill Featuring Donald Trump
Trump Announces 25% Tariffs on European Imports, Citing Unfair Trade Practices
Germany's Election Outcomes: Migrants Confront Insecurity as Far-Right Support Grows
Macron Stresses Ukraine's Independence During US-Russia Peace Discussions
Putin Describes Zelensky as a 'Toxic Figure' in Ukraine's Political Landscape
The US aligns with Russia in opposing a UN resolution that condemns the invasion of Ukraine.
Unelected President Zelenskiy suggests he would resign solely in the event of the improbable: Ukraine's accession to NATO.
German Election Polls Indicate Change as Conservatives Take the Lead and Far Right Increases Support
The Enigma of QR Codes on Gravestones in Munich Unraveled
Research Explores Possible Connection Between COVID-19 Vaccines and Post-Vaccination Syndrome
German Conservatives Achieve Electoral Success in the Wake of Significant Advances by the Far-Right AfD
German Chancellor Concedes Party Loss in National Elections
Trump Commends German Election Results as a 'Wonderful Day for Germany'
German Political Figures Respond to Election Outcomes
Initial Exit Polls Show Conservatives in the Lead in German Elections
Ukrainian President Zelensky Shows Reluctance Regarding US Minerals Deal
Germany Gears Up for Crucial Election Amidst Political Uncertainty
Vatican Declares Pope Francis' Health Status as 'Critical'
U.S. and Hungarian Officials Talk About Economic Collaboration and Sanctions Strategy
Technology Giants Activate Lobbying Campaigns Against Strict EU Regulations
Pope Francis Admitted to Hospital in Rome Amid Increasing Speculation on Succession
Zelensky Calls on World Leaders to Back Peace as Tensions Rise with Trump
UK Leader Keir Starmer Calls for US Security Guarantee in Ukraine Peace Deal
NATO Chief Urges Higher Defense Expenditure in Europe
The negotiation teams of Trump and Putin meet directly, establishing the groundwork for a significant advancement.
Rubio Touches Down in Riyadh Before Key U.S.-Russia Discussions
×