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Oct 20, 2020

Hungarian government to make home purchase subsidy tax-exempt

Katalin Novák said both new and second-hand properties purchased through the government’s home buying subsidy scheme CSOK will be fully exempted from the asset acquisition tax from January.

 

Katalin Novák, the minister without portfolio in charge of family affairs, said both new and second-hand properties purchased through the government’s home buying subsidy scheme CSOK will be fully exempted from the asset acquisition tax from January.

According to MTI, Minister Novák said that a family buying a property for HUF 50 million could save HUF 2 million (EUR 5,470) through the exemption, adding that their savings would add up to HUF 15.5 million considering the government’s recent move to scrap the VAT on such purchases.

Novák noted that single parents were eligible for the scheme, too, adding that they would thus benefit from the new scheme. She also said that the scheme did not have a cap, and the government would provide as much funding as needed.