According to the new law, residents of Hungary can legalise their unreported foreign income made before June 30, 2016 if they pay a 10% tax and a correction fee.

This option is open for money repatriated to Hungary to an account of the selected banks by June 30, 2017.

CIB and K&H are not participating in this programme.

In the previous tax amnesty, the stability savings account scheme, 2,141 persons brought home a total of Ft 155.6 billion.

Source: Hungary Around the Clock

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