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While double taxation agreements do provide for relief from double taxation, Hungary only has some 73 of them in place. This means that Hungarian citizens receiving income from the 120-odd countries and territories that Hungary has no treaty with will be taxed by Hungary, regardless of any tax already paid elsewhere.
The above is not entirely accurate information.
The number of concluded double tax treaties is now well above 80, and their number is increasing aech year.
Although Hungary does not provide foreign income exclusion, but allows tax deductions for both citizens and residents who are taxable persons in the country. Non-residents are taxed exclusively on their domestic source income (territorial jurisdiction) when no agreement on avoidance of double taxation exists.
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The general rate of personal income tax in Hungary is currently 15 percent,
and there are plans to reduce this to 9% in the following years.
==India ==
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