News in Brief
Government to reduce tax on capital gains from cryptocurrencies to 15 percent
Experts estimate that “tens of thousands” of Hungarians own cryptocurrency and put the value of that currency at HUF 300 billion.
Tax Cuts
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State Secretary Izer: Tax discounts aimed at countering coronavirus impact have already saved Hungarians HUF 62 billion
Among a series of other steps to protect the economy and help Hungarian families get by during the epidemic, the Hungarian government instructed the tax authority to exercise leniency concerning...
News in Brief
Hungarian government considers expanding personal income tax relief
Discussions are ongoing with the finance minister on exempting women who have given birth to and raised three children from paying personal income tax starting from Jan. 1, 2021.
News in Brief
Further tax cuts in store for Hungary
Norbert Izer said the economy’s growth was backed by tax cuts, adding that reductions may be continued as the central budget has “stable and predictable foundations”.
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Hungarian government to launch new economy protection action plan
Mihály Varga, Minister of Finance, said the action plan will include further tax reductions and streamlining of administrative processes.
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State Secretary: The Hungarian government’s tax cuts are working
State Secretary András Tallai said statistics showed that the government’s economic policy was working. He added that if a country’s budget revenues are up after the government cuts taxes “then things are going in the right direction.”
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2020 budget will bring EUR 245.5m in tax reductions, says official
“The country’s economic indicators are soaring, quality of life is rising, entrepreneurship is easier and easier. It is hard to grasp why the left-liberal opposition insists on mulling tax hikes and austerity,” András Tallai said.
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Further tax cuts planned in Hungary over the coming years
Mihály Varga said the Hungarian cabinet wants to remain “the government of tax cuts” and over the coming years wants to introduce the biggest cuts in administrative burdens related to taxation
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Government to submit its 2019 budget to Parliament on June 13th
Gergely Gulyás, the minister heading the Prime Minister’s Office, said Parliament may adopt the 2019 budget plans as early as the second half of July
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Hungary's finance minister: New tax cuts are planned and fresh investments are on the horizon
Hungary wants to preserve the current growth rate of around 4 percent, new tax cuts are planned and fresh investments would be coming on tap, the minister said
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Finance minister: Hungary will aim to further reduce taxes for both private individuals and businesses
Minister Varga said the new cabinet wants to achieve full employment and targets annual GDP growth of around 4 percent until 2022
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Hungary's economy is booming and the standard of living of Hungarians has improved dramatically over recent years
According to official figures, Hungary's economic policy based on wage hikes and tax cuts has created stable and rapid economic growth
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Hundreds of thousands of Hungarians will receive pay rises this month due to higher salaries that came into effect on January 1st
“In addition to the work of the Hungarian people, both the good performance of the Hungarian economy and the tax cuts are enabling these wage increases, and their effects are being reinforced by our family support schemes,” Csaba Dömötör said