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Rules Applicable to Private Entrepreneurs in Hungary

By bencel
October 5th at 3:21pm

In terms of revenues from lease of real properties and revenues originating from other accommodation services, defined in the Government Decree 10 on the conditions of the pursuit of accommodation service activities and the procedures for authorization of accommodation service activities (hereinafter: Government Decree) the private individual who decides to apply the rules on income from employment activities in relation to their income from the lease of real properties and the rules on flat rate taxation or income from self-employment in relation to other accommodation services are not considered private entrepreneurs when they calculate their income. A private entrepreneur can make that choice, pursuant to Section 3 point 17 of the PIT Act, in relation to any rent or accommodation service fee earned after 16 August 2010.11 If they choose the former option, the tax liability pertaining to the income obtained in that manner must be fulfilled pursuant to the provisions applicable to private individual taxpayers.
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