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Stressed that it is VAT on the sale of new homes the rate will be reduced by 22 percentage points to five percent, effective January 1 exemption and thanks to it, the administration of a million and a half cases of the public administration becomes free. The exemption is also available to families with children who benefit from the homestead discount, whether they buy a new or used apartment. THE Brandy wage making and your private kitchen will be tax-free up to 86 liters of distillate per year. Instead of half a million guilders, people can claim up to one million guilders over 12 months. automatic discount in installments.
Norer Izer indicated that the New Year will bring favorable tax changes not only for the population, but also for companies. THE small business tax (kiva) the rate will decrease from 12 percent to 11 percent, and the income threshold will increase from the current one billion to three billion florins and the exit threshold from three to six billion florins. This type of employment and investment incentive tax is becoming increasingly popular among SMEs. By December 27, 7,400 companies had already indicated that they would join the foreclosure camp next year.
Hungary will be one of the first in the European Union to offer from next summer VAT refund recommendation service companies, which can significantly reduce the bureaucratic burden of half a million companies. In addition to preparing the more complicated return, startups can count on additional relief. The period of special and personalized assistance is called tutorships So far, his half-year term has been growing to one year. Also, the fact that next year will bring a significant reduction in administrative burdens for some 150,000 companies ekaerben (in the electronic road traffic control system) should only be reported in the case of the transport of dangerous products, according to the Secretary of State.
According to Norbert Izer, next year due to two more favorable tax changes, companies may find development and investment even more valuable. As of 2021, the development reserve The upper limit of 10 billion HUF and therefore the tax credit can be applied up to the full amount of the winnings. In the case of SMEs, investment thresholds will be even more favorable next year: a development tax credit small businesses can use it for investments of up to HUF 200 million and medium-sized businesses for HUF 300 million.
It would be easier tax debt settlement is. Individuals can apply for the discount for automatic payment in 12-month installments once a year, instead of half a million guilders. The deductions also affect the personal income tax return, and already in the return that will be filed in May – instead of two hundred thousand florins – up to half a million florins, instead of six months, you can also request personal income tax and social contribution for 12 months. no installment payment.
In the case of some 800 thousand companies, it will be cut in half next year. local business tax maximum rate. A maximum local business tax of one percent can be expected in 2021 for sole proprietorships, other enterprising individuals (such as primary producers), and SMEs with a total number of employees of less than 250 and a turnover or balance sheet of up to 4 billion HUF, the Secretary of State recalled. .
Referring to the procedural changes, Izer Norbert said that since with road tax The related tasks will be transferred from the municipalities to the NAV, the tax will continue to be paid semi-annually in two equal installments, exceptionally until April 15, 2021, later until March 15 and September 15.
Due to the simplification of the tax system and the easier use of benefits, a personal discount From now on, it can be applied not as a tax benefit, but as a discount by reducing the consolidated tax base, rounded to one third of the minimum wage, to one hundred florins, Norbert announced, adding that the conditions of use remain unchanged. By the simplest application of the law The order of application of the benefits of the taxable income in the PIT will change next year: The discount for mothers raising four or more children is available first, then the personal allowance, the first married allowance, and finally the family allowance and the family contribution allowance, the Secretary of State concluded.
Families with children can be of great help starting next year duty waiver Izer Norbert emphasized. As said, the purchase of new and second-hand homes, with a sale contract concluded after December 31, 2020, is exempt from property tax for consideration if the acquirer uses the family home construction discount in the purchase. The exemption can be used regardless of the amount of the discount used and the market value of the apartment.
Cover Image Source: Portfolio
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