Mária Lakatos

Taxation in General: Hungarian Tax System

Independent income: renting

In all cases, the revenue from the rental fee of real estate is income that is subject to consolidation, i.e. the previous option has been abolished, but costs can also be accounted for against the income. A change in 2012 is that in the case of renting an apartment, the landlord may deduct from his income the invoiced rent fee of the apartment rented in another settlement, if this has not been accounted for as an expense elsewhere.

The rules of itemized cost deduction or dictated flat rate apply to cost accounting. The personal income tax (szja) on income after expenses deducted is 15 %.

With regard to regular income-generating activities, a natural person is subject to the general VAT tax rule in the absence of a registration as a taxable person and a due tax number. So in this cases one is obliged to issue a document specified in the VAT Act (in Hungarian abbreviation: Áfa tv.) [15]. In contrast, in case of tax-free real estate rental, it is sufficient to issue an accounting document in accordance with Act C of 2000 on Accounting (in Hungarian abbreviation: Szvt) [16] instead of an invoice.

Taxation in General: Hungarian Tax System

Tartalomjegyzék

Kiadó: Akadémiai Kiadó

Online megjelenés éve: 2022

ISBN: 978 963 664 137 5

Taxation is a scheme for the state to provide revenue. The so collected money could then cover the public spending of the government. These are the so-called allocative and redistributive functions of the state budget. Although, taxation theory discusses the various tax types and analyses the various taxation tools very extensively, there is no absolute answer to the question, when and what type of taxation system would be optimal. Thus this introductory book on taxation deals with the three basic types of taxes - the income tax, the VAT and the corporation tax - in a very pragmatic way. There are legal texts and cases from both the international and also from the relevant Hungarian practice.

This book is recommended not only for students of economics but also for law students and practitioners beside anyone who is interested in the basic regulations of taxation.

Hivatkozás: https://mersz.hu/lakatos-taxation-in-general-hungarian-tax-system//

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