Conversion to HUF of revenue obtained from abroad and tax paid abroad

When converting revenues obtained in foreign currencies to HUF the payer that has to subtract tax advance money has to apply the official foreign exchange rate published by the National Bank of Hungary, effective on day 15 of the month that preceded the obtaining of the revenue. For establishing the tax advance money, the tax, a private person taxpayer may also decide to apply the official
exchange rate published by the Hungarian National Bank valid on day 15 of the month that preceded the obtaining of the revenue for converting revenues obtained in foreign currencies to HUF.

Tax paid abroad has to be paid – based on the decision of the private person – either at the exchange rate effective at the time when the expenditure is performed or – in line with the previous legislation – at the exchange rate that is valid on the last day of the taxation year.