Highest declared 2012 personal income in Hungary falls 20%

The highest declared 2012 personal income in Hungary was HUF 760 million (or €2.63 million at the average exchange forint-euro exchange rate for the year), down from HUF 951 million in 2011, National Tax and Customs Office (NAV) Deputy Chairman Árpád Varga announced on Friday.

The figure does not include income from dividends and other income which is taxed separately from the personal income tax. Varga said that the person who earned HUF 760 million in 2012 paid taxes of HUF 154 million for the year.

The person with the biggest income earned a total of HUF 794 million, most of it in dividends. He/she was also the biggest individual taxpayer.

The 100 biggest income earners declared total income of HUF 73.2 billion, of which 90.2% was income taxed separately, with two-thirds coming from dividends.

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