BDO Hungary drew attention to the fact that the range of personal income tax (PIT) benefits is further expanding.

The consulting firm indicates in its summary that for mothers raising four or more children during the period of their preferential entitlement, if they have no other non-consolidated income, the amount of personal income tax may be reduced to zero. this benefit is available not only to those who currently fall into this category, but also to those who have been in this situation for at least 12 years.

As the benefit is essentially a PIT exemption, the benefits can only be claimed if there is taxable income in the consolidated tax base, to which the discount for four or more children does not apply.

Young people under the age of 25 do not have to pay personal income tax on their wage income and on several other types of income. A month The maximum value of tax savings is HUF 65,055.

The discount can also be used by people who are considered to be severely disabled and have a certificate to that effect. Such is the case due to illness due to lactose sensitivity or gluten sensitivity, with this discount a tax saving of HUF 10,005 per month can be achieved.

The first couple are also entitled to a discount of HUF 5,000 tax savings available monthly, while the family discount depending on the number of dependent children, the following may be enforced:

• tax savings of HUF 10,000 in a dependent case,
• tax savings of HUF 20,000 per dependent in two dependents,
• in three and all other dependents, HUF 33,000 tax savings per dependent.

Those who have a pension insurance, a voluntary pension fund membership or a retirement savings account or a health fund account the amounts paid for them in a given year may also be credited from their tax. The extent of this

• in the case of self-care for pension purposes, HUF 130,000 in pension insurance,
• HUF 150,000 at a voluntary pension fund,
• in the case of a pension savings account HUF 100 thousand, but together they may not exceed 280 thousand forints,
• a discount of HUF 150,000 can be applied for even after health insurance payments, dthe combined tax benefit claimed for the voluntary pension fund and the health fund may not exceed HUF 150,000.

(MTI)