We have summarized the amount of minimum wages and taxes for the financial year 2020 within the classical labour relations.
Wages and Taxes in Hungary 2020
From the 1st of January in 2020 the gross amount of the minimum wage for full-time workers in Hungary is 161 000 HUF while the minimum guaranteed salary is the following: 210 600 HUF
|Hourly rate||Daily rate||Weekly rate|
|926 HUF||7410 HUF||37 020 HUF|
Taxes should be payed by the employers from the gross wages
- 17.5 % social contribution tax
- 1.5 % contribution to vocational training
If your company use pensionary or student agency sevices it will be dispensed from the taxes mentioned above.
Taxes should be payed by the employees from the gross wages
- 15% income tax
- 10% superannuation tax (pension contribution)
- 8.5% health insurance and and individual labour market contribution
The last two have to payed contracted as the 18,5 percent social contributions from the 1st of July in 2020. The family tax allowance is available for its grand total. The income of the pensionary or student agency members only will be charged by the income tax: 15% .