Does Social Contribution Tax ("szochó") apply to TBSZ accounts?

You can withdraw assets at the end of the third year, which is the end of Holding Period 1. By declaring your intent between December 1^st and 30^th, you can make partial or full withdrawals on January 1^st.

You can modify your declaration multiple times during this time. A new declaration overrides the previous one. If the assets requested for withdrawal are not available on December 31, the requested withdrawal will not be executed, and the assets will remain in the TBSZ. For the returns of the amount withdrawn, you will be liable to pay 10% personal income tax. TBSZs opened after 2024 December 31 are subject to an additional 8% social contribution tax ("szochó")…

Holding Period 2 is a 2-year period that starts in the calendar year following Holding Period 1, beginning on January 1.

If you break the account during this time, you will be required to pay a reduced, 10% personal income tax on your returns. If your account was opened after 2024 December 31 you will also be required to pay a reduced, 8% social contribution tax ("szochó") on your returns…

Holding Period 1 is a 3-year period that starts in the calendar year following the collection year, beginning on January 1.

If you break the account during this time, you will be required to pay the standard 15% personal income tax on your returns. If your account was opened after 2024 December 31 you will also be required to pay the standard 13% social contribution tax ("szochó") on your returns…

The TBSZ shelters the dividend income only when it originates from Hungary. Foreign dividends do not enjoy the tax protection of the TBSZ account because the foreign dividend payers may withhold foreign taxes from the payable amount. The Hungarian personal income tax will and social contribution tax (“szochó”)…