Hungary: Personal Taxation
Inheritance and Gift Taxes
This page was last updated on 5 December 2019.
Formerly, inheritance and gift tax had a maximum rate of 40%. They are now levied at a flat rate of 18%, with a reduced rate of 9% applying to acquisitions of residential property. Close family members are fully exempt from inheritance tax, and step parents and children have an allowance of HUF 20 million (approx. US$65,500). Additionally, there is an exemption on the first HUF 300,000 (approx. US$985) of moveable property per beneficiary (some items, such as cars, are excluded).
Gift tax is imposed on assets at similar rates to inheritance tax.