Hungary Parliament Considers 2026 Budget Bill

The Hungarian Parliament May 6 accepted for consideration Bill No. T/11864, the 2026 budget bill. The bill includes measures to: 1) double the family tax and contribution allowance for children, effective Jan. 1, 2026; 2) introduce an individual income tax exemption for mothers with three children, from Oct. 1, 2025, and for mothers under 40 years old with two children, from Jan. 1, 2026; 3) increase the minimum wage rate by 13 percent, from January 2026; 4) provide individual income tax exemptions for childcare and adoption expenses; 5) reduce the individual income tax rate to 15 percent from 32 percent, ...