There are 2 options of paying tax in Hungary.
Option 1. Pay 25% on the whole rental income activity - no reduction applies on management fees etc.
Option 2 Pay 18% on HUF below 1,700,000 and all managenet fees utiity costs etc can be deducted.
We would fall into the below 1,700,000 category so on the face of it it looks like option 2 is the best option.
Does anybody know what the catch is? Is there any advantage of going with option 2 as we may have to pay the balance in Ireland anyway?
We are also running out of time as the tax year end is by May 20th in Hungary!!
Option 1. Pay 25% on the whole rental income activity - no reduction applies on management fees etc.
Option 2 Pay 18% on HUF below 1,700,000 and all managenet fees utiity costs etc can be deducted.
We would fall into the below 1,700,000 category so on the face of it it looks like option 2 is the best option.
Does anybody know what the catch is? Is there any advantage of going with option 2 as we may have to pay the balance in Ireland anyway?
We are also running out of time as the tax year end is by May 20th in Hungary!!