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Generic Tax Name Special tax on financial institutions
Tax name in the national language Pénzügyi szervezetek különadója
Tax name in English Special tax on Financial Institutions
Member State HU-Hungary
Tax in force since 2010/09/27
If abolished, date on which the tax ceases to apply
Business version date 2015/01/01
Version date 2015/02/17
This file was last updated on

Type of tax
Direct taxes Personal income tax
Corporate income tax
Other

Indirect taxes VAT
Excise duty (EU harmonised)
Alcoholic beverages
Energy products and electricity
Manufactured tobacco
Other

Social security contribution Employers
Employees
Other
 
Legal base

Section 4/A. on the Special Tax of Financial Institutions in Act LIX of 2006 on the Introduction of Special Tax and Bankers' contribution Intended to Improve the Balance of Public Finances.

 
Who sets
The tax rate is set by




The tax base is set by




The reliefs are set by




Comments
 
Beneficiary





Comments
 
Geographical Scope

Hungary

 
Taxpayers

The taxpayers are:

  • credit institutions
  • other financial institutions (including: financial enterprises, investment firms, exchange market operators, commodity dealers, venture capital fund management companies).
 
Tax object and basis of assessment

Special tax base:

1. in the case of credit institutions, the tax base is the adjusted balance-sheet total calculated based on the annual financial statement of 2009;

2. in the case of other financial institutions the tax base is:

a) for financial enterprises,

aa) interest income, and

ab) income from fees, charges and commissions

calculated based on the financial statement of 2009;

b) for investment firms, the adjusted net turnover calculated based on the annual account drawn up for 2009 according to the Government Decree on the Special Provisions Regarding the Annual Reporting and Bookkeeping Obligations of Investment Firms,

c) for exchange market operators, the tax base is the adjusted net turnover calculated based on the annual financial statement of 2009,

d) for commodity dealers and venture capital fund management companies, the adjusted net turnover calculated based on the financial statement of 2009,

 

 
Deductions, Allowances, Credits, Exemptions

The amount of special tax of financial institutions, payable by credit institutions for the financial year shall be decreased - not to exceed the amount thereof - by the amount paid (payable) under the title of special tax of credit institutions for the financial year (tax year).

 
Rate(s) Structure

Rate of special tax:

a) in the case of credit institutions 0.15 per cent of the tax base up to 50 billion forints, and 0.53 per cent for any sum over 50 billion forints;

b) in the case of other financial institutions:

ba) 6.5 per cent for financial enterprises,

bb) 5.6 per cent for investment firms,

bc) 5.6 per cent for exchange market operators,

bd) 5.6 per cent for commodity dealers and venture capital fund management companies.

 
Tax due date

Financial institutions are required to assess, declare and pay special tax for the year 2015 as well.

Financial institutions asses their payment liability for payment of special tax by 10 March 2015 and declare it on a special form specified to due dates, and pay it quarterly, in four equal installments by the 10th day of the last month of each quarter.

Financial institutions established between 2010-2014 without predecessor, and taxpayers whose financial year differs from the calendar year shall assess the special tax by 10 September 2015 based on the annual accounts relating to the last completed financial year, declare it on a special form specified to due dates, and pay it in two equal installments by 10 September and 10 December.

 
Tax collector

The tax is collected by the National Tax and Customs Administration.

 
Special features
 
Economic function







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Environmental taxes



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Tax revenue
ESA95 code d214i + d51b + d91b

Year
Annual tax revenue (millions)
Currency
Tax revenue as % of GDP
Tax revenue as % of total tax revenue
2012 182,585.00 HUF 0.64
2011 185,387.00 HUF 0.66
2010 186,847.00 HUF 0.69

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