Question title: Taxation and deductions

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Hi Andreas,

You are correct in Hungary total tax deductions will be in the region of the 50% of your salary.

You can opt for a private pension but if you are doing this to reduce the amount of tax deducted from your salary this will not have the desired effect. All that will happen is that the amount otherwise paid to the government will be allocated to a private pension in Hungary.

Try this website for a breakdown of tax deductions www.nettober.com

It is in Hungarian but you can translate it to English using the Google toolbar.

Please note that I a Wealth manager and not an accountant but I hope you find my reply to be useful.

Best regards,
Richard

2. richard holmes on January 27, 2010, 3:00 pm

Hello, I am interested in relocation from Switzerland to Hungary. However I am having problems calculating all the deductions which I will get on my salary in hungary. Which deductions are mandatory, and which can I go private (Like pension and so forth). SO far I have not found any good pages explaining the options expats have for Taxation, Social, Pension, Unemployment and Health deductions. All I see so far is I loose 50% of my salary to the government, which is a hard pill to swallow! Where can I get all this info?

1. Andreas on January 22, 2010, 11:39 am