The Hungarian tax authority prepares the personal income tax returns for everyone it has employer information about, whether they are employees, primary producers, private individuals liable for the payment of VAT or individual entrepreneurs.
The Hungarian tax authority draws attention to the fact that individual entrepreneurs – except for the part-time individual entrepreneurs taxing on fixed-rate tax of low tax-bracket enterprises (KIVA) or on simplified entrepreneurial taxation (EVA) –, primary producers and private individuals liable for VAT payments are obliged to submit their personal income tax declarations independently. However, the drafts prepared by the tax authority, which are based on the information provided by the employer or the taxpayer, facilitate the preparation of their tax returns as well. The draft returns will be available on the tax authority’s website and the governmental portal from 15 March 2020.
The individual entrepreneurs, primary producers, private individuals liable for VAT payments can submit their returns after completing and saving their return with the non-payer employer, payer employer, entrepreneurial and primary producer income information. The unified deadline for filing the tax return is 20 May for everyone.
By Balint Zsoldos, Head of Tax, KCG Partners Law Firm