This feature is not currently available to new customers based in Hungary, but we're in the process of enabling EUR and GBP Interest in Hungary. If you're an existing customer with this feature, find general guidance about taxes when using Wise Interest or Stocks.
When you turn on Interest, you’re investing in units in a fund. If you’re a Hungarian tax resident, this means you may need to pay income tax.
Income tax can become due when you move money out of a balance or Jar when it’s held in Interest — through spending, sending, converting or simply moving money to another account.
If you're an existing customer with this feature, you can:
continue using your Jars as before
make non-instant withdrawals
divest your Jars (but you won't be able to switch them back to Assets)
access your Asset tax statements and trade order reports
You won't be able to open a new Jar.
Filing a tax return
As a Hungarian tax resident, you’re required to report income from Interest in your annual tax return. You can find more information at the Hungary tax administration website, Nemzeti Adó- és Vámhivatal. If you're a sole trader using Interest or Stocks passively, the guidance above also applies to you.