Wills and Inheritance in Hungary

Find out about inheritance laws in Hungary and how to make a will...

Since January 2013, the calculation of inheritance tax in Hungary has been simplified. Before this time there were 18 different rates that were used when calculating inheritance tax. There are now only two.

The general rate of duty is now 18 percent for movable assets and 9 percent for residential property. This is regardless of the value of the inheritance.

Inheritance of assets between relatives in direct line of descent are exempt from inheritance tax, so children (including adopted children), parents, and grandparents do not have to pay inheritance tax. Inheritances passing between spouses are also free from inheritance tax.

Inheritance between all other types of relatives and friends are subject to inheritance tax at the rates of 18 percent and 9 percent as stated above.

Information Supplied by Richard Holmes, GERRARDS International 1065 Budapest, Hajós utca 31. Office: +36 (1) 354 0010 Fax: +36 (1) 700 1810 www.gerrardsinternational.com