We can save hundreds of thousands of HUF a year with the help of Coca-Cola Hungary's #YouthEmpowered platform!

The deadline for personal income tax declaration is approaching on 22 May, and the National Tax and Customs Office has already prepared the draft personal income tax declaration for 2022 for most taxpayers. Many people only deal with their tax affairs at this time of year, so it's worth taking the opportunity to find out more about the tax options available to you. Many people may not be aware that they could be entitled to tax relief of up to hundreds of thousands of HUF a year. Among other things, the four new and free tax modules in the #YouthEmpowered programme can help regarding this, covering general tax knowledge and basic concepts, as well as the tax reliefs available.

Hungarian tax rules offer a wide range of benefits for a wide range of taxpayers, from those supporting families, to those linked to age, to those on a health basis. However, most of these are not automatic, so if they are not claimed, they cannot be used.

From January 2022, workers under the age of 25 are entitled to a personal income tax allowance - based on their average gross earnings  - which allows them to pay up to 74,993 HUF less personal income tax per month in 2023. This benefit is available not only on wages but also, for example, on childcare allowances, so that mothers who have not yet returned to the labour market can also benefit.

The benefit is also available to disabled or chronically ill workers. For example, if they have a lactose or gluten intolerance diagnosed by a specialist, they could receive up to 11,595 HUF more per month in 2023. Young married couples, at least one of whom is in their first marriage or registered partnership, will also qualify for a reduction of 5,000 HUF per month for two years from the date of marriage. Family tax relief is available for - among others  - those with minor children, up to 99,000 HUF in tax for three children.

But the possibilities do not end here. In addition to more useful information and calculation examples, the #YouthEmpowered taxation modules: basic tax concepts, personal taxation and business taxation not only guide users through the basic tax concepts and illustrate the main rules of personal and business taxation with clear examples, but also provide access to the latest NAV calculators, which can be used to easily calculate the amount of tax or tax refund due. In addition, the online taxation module can be of great practical help, providing a step-by-step guide to online taxation.

Since 2018, Coca-Cola Hungary's #YouthEmpowered educational platform has been offering users a range of learning materials, mainly related to self-awareness and skills development. However, the range has now expanded considerably: in addition to self-learning, time management, project management and business planning, the online modules now include legal and financial training, and in 2022, a free module on food waste prevention will be added. The aim of the online platform is to help as many users as possible to gain the knowledge they need to succeed in the world of work, whether as employees or in small businesses. This includes four new tax modules that have recently become available, providing users with particularly useful practical knowledge.

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