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The tax changes next year will increase competitiveness and revive the economy, make the Hungarian tax system simpler and fairer.
Norbert Izer, Secretary of State for Taxation at the Ministry of Finance said. He stressed that companies can count on one of the most important tax aid from the government as of July 2021. The tax authority can prepare a draft VAT return for half a million companies.
According to plans, in 2021 the agency will also recommend the draft VAT return for the second quarter and June. With this, Hungary will be among the first in the European Union to provide VAT refund recommendation services to businesses next year.
According to data from the Ministry, the number of people employed with a minimum wage has dropped from 250,000.
Startups can count on even more help next year, as the current six-month period of one-on-one, special assistance, called mentoring, will be increased to one year. The fact that next year only the delivery of risk products will have to be reported in the EKÁER (electronic traffic control system) will mean a significant reduction in administrative burdens for more than 150,000 companies.
Next year, the small business tax will be more favorable and the VAT rate on the sale of new homes may decrease, the vast majority of first instance public administration cases will be tax free, and private home cooking and salaried kitchen will again be exempt from the special tax. In total, these measures leave more than HUF 120 billion for those affected.
Videoton’s co-CEO says that those who are really suffering from the epidemic should get help from various outlets.
The government’s investment promotion policy will also continue. Next year, there will be a full exemption from corporate tax for reinvested earnings. The development reserve amount can be canceled from the entire profit before tax.
According to the Finance Ministry, next year’s change in the detailed tax (kata) of small tax companies will make the Hungarian tax system fairer by taxing high-value transactions (more than 3 million HUF) in such a way to continue to help small businesses, such as hairdressers, beauticians and taxi drivers. .
One of the simplest and least burdensome tax types in the EU, the kata’s actual target group, some 340,000 small businesses, is not affected by the new rule that from 2021 companies that outsource to katas are they will tax 40%. within it it exceeds three million florins.
It has never been one of Kata’s goals for the government to use the reduced tax rate to support companies that provide high-value services to a few companies above several million florins, in the same way that it does not correspond to the large ones. companies use it as an alternative to employment. – commented the Secretary of State.
Izer Norbert also noted that even this year the most complex businesses will cease to exist. – and a significant burden at the end of the year – administrative obligation, the obligation to climb. Last year we no longer had to top up the corporation tax, and this year the top up will also end up on the local corporation tax. Therefore, companies can continue to manage between HUF 80 and 85 billion for five months.
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