Crypto Taxation in Hungary

Hungary overhauled its crypto-asset tax framework on 1 January 2022 when Act XLIV of 2021 inserted Section 67/C into the Personal Income Tax Act (1995. evi CXVII. torveny, commonly abbreviated Szja tv.). The reform replaced an uncertain prior classification under the miscellaneous-income category, which had attracted combined personal income tax and social contribution tax totalling around 30.5 percent, with a single flat 15 percent personal income tax charge and an explicit exemption from social contribution tax (szociális hozzájáruláasi ado, or szocho). Individuals and practitioners should verify current rules with a qualified Hungarian tax professional, as legislation continues to evolve. This page summarises publicly available NAV guidance and secondary commentary for informational purposes only.

What triggers a taxable event for Hungarian crypto holders?

Under Section 67/C Szja tv. and NAV guidance published on nav.gov.hu, a taxable event arises when a crypto asset is (a) converted into fiat currency such as forint, euro, or US dollar; (b) used to purchase movable property or real estate; or (c) contributed to company capital at assessed fair market value. NAV explicitly states that the exchange of one crypto asset for another crypto asset does not constitute a realization event under the Hungarian framework and therefore does not give rise to a personal income tax obligation at the time of the exchange. Tax liability crystallises only when economic value is extracted into non-crypto form. This principle aligns with the position published by CMS Law in its expert guide to crypto taxation in Hungary.

How is taxable income calculated on an annual basis?

Section 67/C Szja tv. requires individuals to calculate crypto income on an annual, portfolio-wide basis rather than transaction by transaction. Annual taxable income equals total annual proceeds (in forint) from all qualifying taxable events minus total documented annual acquisition costs. Deductible costs include the purchase price or fair market value at acquisition, certified mining and transaction costs, platform fees, and commissions. The 15 percent personal income tax is applied to the positive net result. Where documented costs exceed proceeds in a given year, a loss arises. Per Grant Thornton Hungary, income and losses are reported on the annual personal income tax return with payment due by 20 May following the tax year. The relevant form lines are specified in NAV guidance for each filing year.

How does loss offsetting work under Section 67/C?

Section 67/C Szja tv. provides a mechanism called adókiegyenlítes (tax equalisation) that allows documented crypto losses to offset current or prior years' crypto income tax. The offset equals 15 percent of documented losses from the current tax year and the two preceding tax years, reduced by any prior offsets already applied. NAV confirmed in its 2022 Q&A guidance that losses must be formally declared in the tax return in the year they arise to be available for offsetting in future years. From 1 January 2024, a further amendment allows loss carry-forward even where the individual has no crypto income in the year the offset is applied, removing a prior restriction. Losses from crypto transactions cannot offset income from other categories such as employment or securities gains.

What HUF threshold exempts small transactions?

NAV guidance on nav.gov.hu confirms a de minimis rule: no personal income tax is payable if annual gains do not exceed 20,000 forint (10 percent of the monthly statutory minimum wage) and total annual crypto transaction revenue does not exceed 200,000 forint (equal to one monthly statutory minimum wage), provided the taxpayer has not conducted multiple identical qualifying transactions on the same day. Both conditions must be met simultaneously. Where either threshold is exceeded, the full amount becomes reportable.

What rate applied before 2022, and what changed?

Before the 2022 reform, individual crypto income in Hungary had no dedicated statutory classification. NAV treated it as miscellaneous income subject to both 15 percent personal income tax and 15.5 percent social contribution tax, producing a combined charge of approximately 30.5 percent for individuals. The introduction of Section 67/C from 1 January 2022 established crypto income as a distinct category explicitly excluded from the social contribution tax base, reducing the effective rate to 15 percent. Grant Thornton Hungary noted that transitional provisions allowed individuals who had not previously declared crypto income to regularise pre-2022 positions via the 2022 tax return under a five-year tax amnesty framework. From 1 January 2022, normal reporting obligations apply without amnesty coverage.

Rate and threshold summary

Hungarian individuals must file the annual personal income tax return (Szja-bevallas) reporting net crypto income by 20 May of the following year. Mining income is taxable at the fair market value in forint at the time of receipt, with that receipt value forming the cost basis for any subsequent disposal. Staking and airdrops follow the same receipt-date fair-market-value rule under current NAV practice. NFT transactions are treated as crypto-asset transactions subject to the same Section 67/C framework. For broader context on the Hungarian tax environment, see the Hungary country overview and the related guide on Hungary capital-gains tax. The rules described on this page are informational only. Individuals with crypto income in Hungary should consult a qualified Hungarian tax professional (adótanácsadó) registered with the Hungarian professional tax chamber MOKLASZ before filing.