Search articles
What measures and immediate assistance can businesses access to help mitigate their financial problems?
According to Government Decree No. 47/2020 of 18 March on the immediately effective measures taken to alleviate the economic effects of the coronavirus pandemic:
Source: ITM [Ministry for Innovation and Technology] State Secretariat for Economic Strategy and Regulations
- Pursuant to Article 4, business entities operating in the tourism, restaurant and catering, gambling, film, entertainment, event planning and sports services industries shall be exempt from their obligation to pay salary-related taxes and contributions payable for staff employed during the months of March, April, May and June of 2020. Of the salary-based contributions, only the health insurance in-kind contribution shall remain obligatory, the extent of which may not exceed the amount of the monthly health care contribution, that is, HUF 7710 per month. Furthermore, businesses required to pay tourism development contribution are relieved of this obligation for the above period.
- Pursuant to Article 5, those taxpayers who are subject to Small business taxpayers’ itemized lump sum tax (KATA) and who are engaged in passenger transport services shall be exempt from their tax payment obligations arising from the Small taxpayers’ itemized lump sum tax and the small business tax act for the months of March, April, May and June of 2020.
Source: ITM [Ministry for Innovation and Technology] State Secretariat for Economic Strategy and Regulations