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In 2019, the amount left with families in the form of a tax credit as the recognized cost of having a child was HUF 332 billion. The government has increased more than 26 times the amount left with their parents compared to 2010, András Tállai, parliamentary secretary of state for the Ministry of Finance, informed the MTI. Families can count on more and more support from the government, András Tállai said, adding that this is also true for tax breaks.
The PIT scheme to support families came into effect in 2011, the biggest innovation of which was that it recognized all children, which means that the tax credit was for all children as early as 2011, emphasized the Secretary of State. As you said,
the number of users multiplied by ten (from 106 thousand to approximately one million), and last year the amount of the family discount was more than twenty-six times higher than the 12.6 billion HUF in 2010,
when, in addition to the fact that parents with one or two children did not receive any support from the state, those with at least three children also received a much lower tax credit.
Family-centered tax relief is constantly expanding, and all this is evidenced not only in the text of the legislation, but also in the fact that the amount left with families increases year by year, András Tállai emphasized. While in 2011 there were 180,000 million HUF with those affected, in 2019 it was already 332,000 million HUF.
The secretary of state has highlighted two favorable government measures from previous years that may explain how the amount of money left with families has almost doubled in eight years. In 2014, a provision came into force that allowed parents to reduce their contributions in addition to their personal income tax, András Tállai recalled, adding that last year
In total, more than HUF 57 billion stayed with families at this address.
The next historic fiscal step was to double the family tax credit for the children of two children, the Secretary of State said, adding that the discount system was completed in 2016, starting in 2016, when it left 40,000 HUF per month to those affected.
András Tállai drew up the element of last year’s family protection action plan that went into effect this year, according to which the state no longer expects a penny of income tax from mothers who have four or more children after of your income. As of July 1, the range of family benefits is expanded with another element, since since then the discount of the total amount of individual contributions can be used.
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