Tax number, taxpayer card or tax residency in Hungary
According to global transparency act, the banks are obliged to report tax-payers account data to their local tax and custom administration, exchanging the information on an automatic basis. However, if you specify the Hungarian tax number (adóazanosító jel) when opening an account, the bank is exempted from duties to notify the foreign tax service and provide any information about the transactions.
It makes sense to apply for a Hungarian tax card, which allows you to choose Hungarian tax residency. At the same time, owning a tax number does not imply a tax liability by itself. You must consider applying for a tax number if you choose to work or purchase real estate or vehicle in Hungary.
If you are planning to lease out a property or start a business, you will need to request an additional tax number (adószám), which entitles you to pay income tax. Registering a legal tax status also allows you to carry out legitimate activities in Hungary and European Union. Paying an income tax for at least one year is mandatory when applying for permanent residency in Hungary.
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