Four types of tax contribution are being merged on 1 July 2020, in addition to which the rate of social contribution tax will also be falling to 15.5 percent.
“The government has decided on the introduction of further tax concessions that will leave 200 billion forints (EUR 570 million) in the pockets of enterprises and families”, Minister of Finance Mihály Varga announced.
The immediate measures adopted with a view to alleviating the economic effects of the coronavirus epidemic have been published in Magyar Közlöny (Hungarian Gazette).
After taxi drivers, another 81,480 small businesses and individual entrepreneurs are being granted exemption from the payment of the flat-rate tax of small businesses (kata) due to the coronavirus epidemic until 30 June.
PM Orbán announces new economy and job protection measures adopted by the government due to the coronavirus epidemic.