Hungary Introduces Young Employee Income Tax Exemption

A Hungarian income tax exemption for young employees under age 25 is to take effect starting Jan. 1, 2022.

Law XXXIV/2021 (Hungarian) exempts eligible employees from income tax on monthly wages up to the average gross monthly salary for full-time employees from July of the previous year, a value determined by the Hungarian Central Statistical Office.

The law was published in the country’s gazette May 6.