General tax rates in 2014

The following general tax rates are applicable in Hungary.

Corporate income tax:10% rate up to to the first HUF 500 million of taxable income.above the tax rate is 19%
VAT:standard rate: 27%, preferential rates: 18% and 5%
Local business tax:2% imposed on turnover or gross margin
Personal income tax:16%
Social security contributions:on gross salaries 27% is paid by the employer, and 18.5% is deducted from the employee
Withholding tax on dividend:withholding tax is not imposed on dividend paid to companies, 16% is imposed on dividends paid directly to resident and nonresident individuals.

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