Hungary Announces Individual Income Tax Exemption Changes for Mothers

The Hungarian Government Jan. 4 announced individual income tax exemption changes for mothers, effective Jan. 1. The announcement includes that: 1) the average wage upper limit is removed from the exemption for mothers under the age of 30 raising one child, expanding the exemption to their entire income; 2) mothers under the age of 40 with two children are exempt from individual income tax; 3) mothers under the age of 30 with a child born before Jan. 1, 2023, are also exempt on their income; 4) affected mothers must make a statement by the 12th week of pregnancy to claim ...