Tag: tax

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Hungarian gov't master plan unveiled - Major tax cuts may be mulled

June 17, 2019, 4:00 pm
The Hungarian government projects the best budget deficit trajectory of all times for the following years, the budget outlook for 2020 shows. The detailed figures also reveal that free budget reserves... 

Hungary's advertisement tax appears to be scrapped for good in 2020

June 17, 2019, 11:45 am
We’ve already learned from Hungary’s Finance Minister Mihály Varga that the government will suspend the collection of the advertisement tax between 2020 and 2022, but the latest budget outlook... 

Hungary to lower social contribution tax from July

June 12, 2019, 8:34 am
Hungary’s social contribution tax rate is to be lowered by two percentage points and in a related measure the simplified contribution to public revenues (ekho) will also be reduced as of July, as... 

European Commission calls on Hungary to raise excise tax on tobacco

June 7, 2019, 8:47 am
The European Commission published decisions on three infringement procedures that involve Hungary on Thursday. These decisions, covering various sectors and EU policy areas, aim to ensure the proper... 

This is how you will pay taxes in Hungary next year

June 5, 2019, 5:26 pm
At the same time as the government submitted its 2020 budget bill on Wednesday, it also introduced next year's tax legislation package. Below is a summary of the most important changes. 05/06/2019 11:47amHungary... 

Time for Hungary to abolish interest tax, state official says

June 3, 2019, 11:03 am
The government should use all available tools to bolster the financial security of families, László Domokos, President of the State Audit Office (ÁSZ) said in an interview with economic daily Világgazdaság... 

On the way to a fairer VAT system

May 30, 2019, 2:17 pm
The European Court of Justice (ECJ) has declared in a recent case that when checking VAT transactions, the tax authority cannot ignore examining the full budgetary impact. Thus it is not acceptable for... 

Hungary tables 13+1 point action plan

May 30, 2019, 12:23 pm
Hungary’s Finance Minister Mihály Varga has announced an action plan of several new measures on Thursday, including a simplification of the tax regime and the abolishment of the advertisement tax.... 

Date set for PIT exemption for Hungarian moms with four children

May 22, 2019, 3:37 pm
Hungarian mothers with four or more children will be exempted from personal income tax payments for life as of January 2019, Katalin Novák, state secretary in charge of family and youth matters told... 

Hungarian tax plans leaked - Car purchases face changes

May 22, 2019, 12:25 pm
The Hungarian government is readying a radical change to the tax regime, local economic news portal hvg.hu reported on Wednesday. According to a draft proposal by the Finance Ministry obtained by the paper... 

Hungary FinMin hints at major tax reduction plans

May 22, 2019, 11:25 am
Hungary’s Finance Minister Mihály Varga has addressed the cabinet’s long-term tax plans in an interview published by business daily Világgazdaság on Wednesday. He noted that although they would... 

The taxation pitfalls of trading abroad

April 25, 2019, 9:23 am
Thanks to the virtual mobility afforded by the internet, a growing number of people today are using online trading platforms to buy and sell foreign securities through brokers abroad. However, these investors... 

Swings and roundabouts

April 11, 2019, 9:58 am
60, 59, 58, 55... this is how the number of taxes has changed in Hungary over the past 4 years. The trend is certainly encouraging, but behind the figures there are some more complex phenomena at play.... 

The harmful addiction that claimed the lives of almost 1 mn people in Hungary

April 1, 2019, 2:32 pm
Every year, we lose the equivalent of the population of a small town because of smoking, which is a major demographic problem for a country naturally decreasing in numbers. According to the latest figures... 

Hungary displays straits of tax haven, EU report finds

March 27, 2019, 12:05 pm
The European Parliament adopted at its plenary meeting on Tuesday a detailed roadmap towards fairer and more effective taxation, and tackling financial crimes. According to a report adopted by MEPs, there... 

Hungary to create rules against corporate tax evasion

February 26, 2019, 8:27 am
The Hungarian government plans to work out regulations that will prevent multinational companies from escaping public burdens, a state secretary in charge of tax issues at the Finance Ministry told daily... 

Tax for small taxpayers is increasingly popular in Hungary - FinMin

January 16, 2019, 11:41 am
The tax for small taxpayers (kata) is becoming increasingly popular in Hungary, the Finance Minister told a press conference on Wednesday. More than 315,000 businesses opted for this tax that requires... 

Hungary's 'chips tax' expected to generate HUF 57 bn this year

January 15, 2019, 4:20 pm
Hungary’s public health product tax, dubbed chips tax, will bring the health care sector 57 billion forints this year, health care economist Tamás Joó told public television M1 late on Monday. ... 

Hungary's 'wonder weapon' brings budget billions of forints

January 8, 2019, 3:45 pm
Hundreds of billions of forints a year. That is how much additional revenue the Hungarian government’s new weapon against the black economy, real-time online invoice reporting, can generate. Using... 

Hungary could afford huge tax cuts in coming years

December 27, 2018, 9:58 am
Hungary could have serious leeway in the budget in 2020 or 2021, according to the government's own forecast. The question is, will this be used to increase spending or to cut taxes? Both could happen in... 
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