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The economic protection operation has opted for a significant tax relief for the benefit of families and companies, Finance Minister Mihály Varga announced after the board meeting on Monday. It was previously decided that the small business tax (Kiva) will be reduced from 12% to 11% next January. The head of the Finance Ministry announced that the economic protection operational tribe has now decided to double the threshold value of kiiva to HUF 3 billion. According to him, the simplified type of tax can be chosen by many more people, the telegraph office reported.
Mihály Varga added that the administrative burden will be reduced by the fact that starting in the second half of 2021 the tax office will prepare a draft VAT return for all companies, so that almost half a million companies will be exempt from the tax. obligation. In addition to businesses, it will also help families next year to handle more than one and a half million cases from the public administration for free. The measure leaves almost five billion guilders to those affected.
The Operational Court for Economic Protection also recommends that the epidemiological screening guaranteed to people by people be tax-free as a benefit. The change will result in tax savings of more than 7,000 guilders per test for the employer.
To encourage investment, it was also decided to remove the HUF 10 billion ceiling from the development reserve. The Finance Minister stressed that the measures are in line with the government’s current tax policy, but due to the extraordinary situation, the reduction of taxes and the simplification of their administration must be accelerated.
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