Hungary has published Law XXXIV of 2021 in the Official Gazette, which amends the Personal Income Tax Law to provide for the introduction of a tax-free allowance (discount) for young individuals under the age of 25 in respect of employment income, including self-employment income. The allowance is equal to the average monthly gross earnings of full-time employees as officially published by the Central Statistical Office for the month of July of the year preceding the reference year, consider…