We would like to inform our clients that, according to the relevant government decree, the transaction duty rate for payment operations will increase from August 1, 2024.
As a general rule, the rate of the duty is 0.45% of the base for financial transaction duty, but no more than 20,000 Hungarian forints per transaction. (Before August 1, 2024, it was 0.3% and a maximum of 10,000 forints.) Additionally, the rate of the duty for cash withdrawals will increase from 0.6% to 0.9%.
Furthermore, from October 1, 2024, a new supplementary transaction duty will be introduced, which applies to payment operations involving currency conversion between different currencies. The rate for this supplementary financial transaction duty will be 0.45% of the base, but no more than 20,000 forints per transaction. We will provide more detailed information on this in the future.
More detailed information can be found in the relevant legislation.
For further information, please feel free to contact our customer service at +36 1 235 8700 or via email at client.service.hu@ingbank.com.