Not tax advice. This is general information for tax year 2026 (filed by 20 May 2027). Tax laws change from time to time: last checked on 3 November 2026. Check your own case in the NAV form guide or with an accountant or tax adviser.
How to work out your broker tax by hand
With a foreign broker (Trading 212, Revolut, IBKR, XTB) nobody withholds Hungarian tax for you, and the NAV draft return does not include it. You work it out and declare it yourself. Here is the whole process, with nothing skipped or softened, the way a careful accountant would do it.
1. Check that your broker counts as ETÜ
Gains on shares and ETFs are a controlled capital market transaction (ETÜ) when the broker is supervised in the EEA, an OECD country or a treaty country and gives you a statement per trade. Then 15% SZJA is due, no SZOCHO, and losses can be offset. If not, other rules apply (15% SZJA plus 13% SZOCHO, with no loss offset). Check which company your contract is with: Revolut, for example, used a different entity before 2023 than after.
2. Get your full history
You need more than the tax year: every trade since you opened the account, because each share you sold needs its original purchase, even from years back. Separately for each broker.
- Trading 212: one export covers at most 12 months, so you need one CSV per year.
- Revolut: the account statement for all time, plus the Profit and Loss statement of every year, because only that shows the foreign tax withheld. For trades before 2023 you also need the old Revolut Trading Ltd statement.
3. Sort the rows
A statement mixes buys, sells, dividends, withholding tax, interest, fees, currency conversions, deposits, withdrawals, splits and other corporate actions. Each is taxed differently, or not at all: a deposit or withdrawal is not income. Every broker has its own layout, and the same broker changes its columns and row types from year to year.
4. Adjust old purchases for stock splits
If a share was split (say 1:4 or 1:10), purchases before the split have to be restated: four times the shares at a quarter of the price. Skip it and the share counts no longer add up, and the matching goes wrong. You collect the list of splits yourself; statements do not always show them clearly.
5. Look up the MNB rate of every day
Each purchase is converted at the official MNB rate of its day, each sale at the rate of the sale day, and each dividend and interest payment at the rate of the day it was credited. On weekends and holidays the last rate published before applies. If the MNB does not quote the currency, you go through euros. London shares quoted in pence (GBX) are first converted to pounds. In an active year that is hundreds or thousands of look-ups. Which rate exactly?
6. Match every sale with FIFO
For every sale you find which purchases it used up: under FIFO, always the oldest shares you still hold. One sale can span several purchases and one purchase can be split across several sales, so for each share you track how many are left from each purchase, per broker.
The gain on a sale in forints is its forint value minus the forint value of the purchases matched to it, each at its own day's rate. Converting the broker's USD or EUR profit at one rate is wrong, because it ignores that the forint rate was different on the purchase days. FIFO with a worked example
7. Work out the year's ETÜ result
Add up all ETÜ gains and losses of the year, across all your ETÜ broker accounts together. Broker fees add to the loss. If the result is positive, 15% SZJA is due. If it is negative, you still declare the loss, because that is the only way to use it: it can bring back capital gains tax paid in the previous two years as tax equalisation (adókiegyenlítés), or reduce the tax of the next two years.
8. Work out the dividend tax, line by line
- Gross up: add the foreign tax withheld to the net amount received. Revolut's statement shows only the net amount; you take the tax from the P&L statement.
- Convert at the MNB rate of the day it was credited.
- SZJA 15%, less the foreign tax, but for a treaty country only up to the treaty rate (it varies by country, usually 10 or 15%). For a country without a treaty, such as the US since 2024, at least 5% is still due in Hungary.
- Source country: the ISIN country code is not always right. An ADR (for example TSM) carries a US ISIN, but the source country is Taiwan.
- SZOCHO 13%, except for shares listed on an EEA regulated market. An Irish ISIN listed only in New York is not exempt.
9. Work out the interest tax
Interest from a broker (for example Trading 212 or Revolut interest on uninvested cash) carries 15% SZJA, and if the savings were opened on or after 1 July 2023, 13% SZOCHO too, with no cap. Interest tax
10. Work out the SZOCHO cap
SZOCHO on dividends is due only until all your SZOCHO bases of the year, salary included, reach the cap: 7,747,200 Ft in 2026 (24 times the minimum wage on 1 January). So your gross yearly salary goes into the calculation too. The cap does not apply to SZOCHO on interest.
11. Fill in the return and pay
You enter the figures on the right sheets of the annual SZJA return (by completing the draft on the eSZJA site, in Hungarian): ETÜ, tax equalisation, dividends, interest and SZOCHO separately. The deadline to file and pay is 20 May.
12. Keep your working
The tax office can ask years later where a figure comes from. You then need to show the matching of every sale, both exchange rates and proof of the foreign tax.
Or let taxprotecc do it
Of the 12 steps above, taxprotecc does everything that is calculation: it reads the statements, sorts the rows, handles splits, converts at each day's MNB rate, matches with FIFO, works out dividends, interest, the SZOCHO cap and tax equalisation, and shows the working behind every forint. You or your accountant check the result before filing.