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tax

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Hungary aims budget deficit of 2.9% of GDP next year

D&T
Nov 3, 2023

The Hungarian government has set its sights on reducing the country's budget deficit to below the European Union's threshold of 3% of GDP in the coming year. Finance Minister Mihály Varga made the announcement while presenting the 2024 budget plan to Parliament this week. As part of their strategy, the Cabinet will ease taxes on […]

Hungary Opens New Front in Battle with EU over Minimum Tax Rate

D&T
Jun 24, 2022

Hungary’s finance minister vetoed an EU directive on a global minimum corporate tax, leaving the outgoing French EU Presidency without its crown achievement. The move is seen as yet another front in Hungary’s standoff with the bloc. Hungarian Finance Minister Mihály Varga blocked a European Union initiative to implement a global minimum corporate tax rate […]

Gov'nt Makes Special Crisis Retail Tax Permanent

D&T
Apr 29, 2020

Tuesday night, the Hungarian government submitted a bill on a special retail tax to parliament. This extends the application of a government decree promulgated two weeks ago. Thus, the tax must not only be paid until the end of the emergency situation due to the coronavirus epidemic, but the Hungarian tax system will be expanded […]

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