articleimg-1
Mar 31, 2017

Hungary to provide R&D enterprises with tax breaks

“Hungary would increasingly like to become an innovation center, and for this reason beginning next year all enterprises involved in research and development will be able deduct twice as much money from their taxable base as they spend on innovation," Hungary's foreign minister said

Hungary is throwing research and develpment (R&D) enterprises a lifeline by allowing them to deduct twice as much money from their taxable base as they spend on innovation.

Péter Szijjártó, minister of Foreign Affairs and Trade, announced the plans at the think.BDPST innovation conference in Budapest this week.

“Hungary would increasingly like to become an innovation center, and for this reason beginning next year all enterprises involved in research & development will be able deduct twice as much money from their taxable base as they spend on innovation," the minister said.

“Visegrád integration could be of great assistance to Hungary in this endeavour in view of the fact that the four countries together can attract many more investments that involve research & development and innovation, than individually," the minister added.

“In this situation, we are endeavouring to connect the V4’s energy, transport and digital system to an even greater extent than before," he concluded.