Investment tax in Hungary
Controlled capital-market transactions, adókiegyenlítés, crypto, dividends and szocho - a guide to the 25SZJA

Which regime applies to a broker trade

67/A. § (3) defines the ETÜ as a transaction in a Bszt. financial instrument (or spot FX) concluded with or through a "befektetési szolgáltató" - a term that expressly includes a person lawfully carrying on the equivalent activity under foreign law - that is supervised in any EEA state, OECD member state or treaty state, provided you hold the provider's statement of every transaction of the year (point bc)). Revolut (Lithuania), IBKR (Ireland), Trading 212 (Cyprus/UK), DEGIRO (Netherlands/Germany), eToro (Cyprus), XTB (Poland), Trade Republic (Germany) and Freedom24 (Cyprus) are all EEA-authorised MiFID firms. NAV's own 25SZJA guide (footnote 200) confirms that even a US broker qualifies in 2025, because the United States is an OECD member.

How the income is computed

67/A. § (1): the income is the excess of "az adóévben elért pénzben elszámolt ügyleti nyereségek együttes összegének" over "az adóévben pénzben elszámolt ügyleti veszteségek és az ügyletkötésekhez kapcsolódó, a befektetési szolgáltató által felszámított díjak együttes összegét". The reverse excess is a loss. It is one figure per taxpayer, across every broker and every instrument - row 172 of sheet 04 (income in column e, the 15% tax in f, a loss in a).

• Securities (3b): result = (sale value − ancillary costs) − (purchase value + ancillary costs). Commissions on both legs deduct.
• Cash-settled positions - CFDs, futures, options, FX spot (3c): the closed position's result minus the directly related costs, converted at the closing date.
• Account, data and custody fees not tied to one trade (3d) reduce the year's aggregate as well.
• Only closed transactions count: "csak azt az ügyletet lehet tekinteni, amely esetében megtörtént a pénzbeli elszámolás". An open position at year end is nothing.
• The broker never withholds on an ETÜ (67/A. § (4)); with a foreign broker you determine the income "saját nyilvántartása alapján, az árfolyamnyereségre irányadó szabályokat is értelemszerűen figyelembe véve" (5) b)).

Accumulating ETFs: nothing until you sell

Hungarian law has no deemed-distribution regime - no equivalent of the German Vorabpauschale, the Austrian ausschüttungsgleiche Erträge or the Irish eight-year deemed disposal, and no wealth tax. An accumulating UCITS ETF sold on an exchange through your broker is an ETÜ like any share: 15%, no szocho, losses netted.

The one trap is the exit route. 65. § (1) b) makes the gain on the redemption or transfer of a "kollektív befektetési értékpapír" interest income - except a transfer on a Hungarian, EEA or OECD exchange. So an ETF sold on the exchange is ETÜ, while a mutual-fund unit redeemed with the fund is 65. § interest: 15% plus 13% uncapped szocho if it was acquired on or after 1 July 2023.

A tax credit, not a loss carryforward

67/A. § (6)-(8) turn a declared ETÜ loss into tax already paid. In the return for year N you compute two totals over the window N-2, N-1, N:

Because the window is symmetric, it works in both directions. In a loss year the loss × 15% is set against the ETÜ tax you paid for the two previous years and comes back as a refund in that year's return - a carry-back without amending anything. What is left can be used in the returns of the two following years. A loss older than two years expires; a loss never declared on row 172 a cannot be used at all.

The rules behind the table

• 15% on the gross amount (66. §), converted at the MNB rate of the payment day (6. § (2)). Foreign dividends go on sheet 05 row 182 (gross in b, the tax after credit in c), with the foreign tax on row 189 (treaty state) or 190 (no treaty). No per-country annex - one total per row.
• Treaty credit: the tax "az egyezmény szerint levonható" - up to the treaty rate - is deducted from the 15%. Withholding above the treaty rate (Germany's 26.375%, Switzerland's 35%) is not creditable and must be reclaimed at source, usually by filing the residence certificate with the broker beforehand.
• No treaty: the foreign tax is credited, but "legalább 5 százalék adót Magyarországon is fizetnie kell" (guide row 182). Since 1 January 2024 that is the US rule. Refundable foreign tax is never creditable.
• Szocho 13% (Szocho tv. 1. § (5) b)) up to the 24 × minimum-wage cap - except dividends on a security "az Európai Gazdasági Térség bármely tagállamában működő … szabályozott piacnak minősülő tőzsdére bevezetett" (5. § (3)). Xetra, Euronext, Borsa Italiana and the BSE qualify; NYSE, NASDAQ, the LSE (post-Brexit) and SIX do not. Tax-Wizard uses the issuer's country as the proxy for the listing and flags every exempt line for you to confirm the exchange.
• ETF distributions are not dividends. 65. § (1) b) calls the yield of a "kollektív befektetési értékpapír" interest, so a UCITS ETF payout is 65. § income - 15%, 13% szocho with no cap, and no EEA exemption (see the interest section). A US-domiciled fund is an alternative investment fund whose yield 66. § (1) a) does treat as a dividend; practitioners disagree, and the report flags both.
• Return of capital: a capital reduction is 68. § income only above the acquisition cost; a payment the foreign law labels a dividend is osztalék regardless. The report reduces the basis and flags the item.

Foreign interest is entered on sheet 05 row 183 (gross in b, tax after credit in c) with the foreign tax on row 191 (treaty) or 192 (no treaty, 5% floor). Since 1 January 2024 interest paid by anyone resident in an OECD state is kamatjövedelem even without a treaty (28. § (12)) - the guide says so expressly for the US. Accrued interest you paid on buying a bond deducts from the first coupon received (guide row 170).

A yearly cash pool, not a lot-by-lot gain

67/C. § (2) recognises a transaction only when you obtain non-crypto value - fiat, goods, a service - by transferring a crypto-asset: "mindaddig, amíg a kriptoeszköz ellenében kriptoeszközt szerez a magánszemély, az ügylet adómentes." Swaps, including into stablecoins, and transfers between your own wallets are nothing.

The year's ügyleti nyereség is the excess of all proceeds of the year's realisations over all documented expenditure of the year on acquiring crypto plus fees - and the 25SZJA guide is explicit that a purchase counts "abban az esetben is ha az adott kriptoeszköz nem került a tárgyévben értékesítésre". The cost of coins bought in an earlier year was deducted then and is not deducted again when you sell them. A year with purchases and no sales is a loss year.

65. § is an exhaustive list, and interest on a loan granted by a private individual is not on it - the 25SZJA guide files "a magánszemélytől kapott kamat" under egyéb jövedelem (28. §). Where you owe the szocho yourself and nobody reimburses it, 29. § makes 89% of the income the tax base: row 19 of sheet A carries the revenue in b, costs in c and 89% of the difference in d, and the 13% szocho goes on sheet 09 row 293.

Platforms that issue publicly offered notes (Mintos "Notes" under a Latvian prospectus) can be argued to be 65. § (1) b) securities whose yield is interest - 15% and 13% on the full amount instead of on 89%, on row 183. NAV has issued no guidance on P2P platforms; Tax-Wizard defaults to egyéb jövedelem and offers the interest treatment as a setting. Written-off principal is never deductible under either reading.

Which MNB rate, on which day (Szja tv. 5. § (7), 6. §)

MNB fixes at 11:00 on Hungarian business days and each rate is valid until the next publication, so a weekend, holiday or bridge day resolves to the last published rate. Tax-Wizard ships the full MNB series and refreshes it from the bank's own service.

The szocho in one table

The cap ("adófizetési felső határ", Szocho tv. 2. § (2)) is 6,403,200 Ft for 2024, 6,979,200 Ft for 2025 and 7,747,200 Ft for 2026. It is filled first by your consolidated-base income - salary, self-employment, egyéb jövedelem - and only what is left is charged on dividends and árfolyamnyereség. NAV's own example: salary 3,790,000 Ft and árfolyamnyereség 5,000,000 Ft → szocho base 3,189,200 Ft, tax 414,596 Ft. Enter your other income in the panel; left at zero, the report charges the full 13%.

Where each figure goes (25SZJA)

The 24SZJA used the same rows except two things: sheet-04 income and tax sat in columns d/e, and the crypto block ran 206-210. Tax-Wizard's workbook carries the right numbering for the year you select.

Deadlines and channels

The draft contains only what Hungarian payers reported. You complete it in eSZJA row by row (or in ÁNYK until its sunset on 31 December 2026), attach nothing, and keep the broker statements for the five-year limitation period. NAV does receive CRS bank data from abroad and queries mismatches - the absence of prefill is not an absence of visibility.