Tax Relief

Hungarian official gazette for the implementation of tax relief because of the coronavirus

June 14, 2021, 5:00 a.m.

The Hungarian Official Gazette published Decree No. 318/2021 on June 9, introducing tax relief due to the coronavirus pandemic. The decree includes the following measures: 1) granting a one-time tax deferral for six months with 12-month installment payments up to 5 million Hungarian forints (US $ 17,582) for taxpayers who have sufficient payment difficulties due to the pandemic restrictions; 2) Granting a tax exemption of a maximum of 20 percent up to 5 million forints for qualified companies affected by the pandemic restrictions; 3) Extension of the discharge for the payment and reporting of tourism development contributions for taxpayers until December 31; and 4) increasingly …

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