Favourable amendments in relation to VIP cash grants

Favourable amendments in relation to VIP cash grants

In order to reboot the Hungarian economy, the below favourable amendments have been enacted.

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In order to reboot the Hungarian economy, the below favourable amendments have been enacted:

1)     The minimum investment value has been decreased to EUR 5 million (from EUR 10 million) in case of investments project to be carried out in Somogy and Jász-Nagykun-Szolnok counties.

2)     VIP cash grants relating to R&D projects are now available  

  • if the eligible costs are exceeding EUR 1 million (instead of the previous EUR 3million threshold), and
  • the R&D headcount is increased by 10 employees (instead of the previous 25).

The above new rules could be applicable with regards to subsidy procedures initiated after 3 July 2021.

Should you have any questions with regards the above, please contact Zachár Gábor, Tax Partner, (tel.: +36 1 887 6690, gabor.zachar@kpmg.hu) or contact your usual tax advisor at KPMG’s Tax Department.

© 2021 KPMG Hungária Kft./ KPMG Tanácsadó Kft. / KPMG Legal Tóásó Ügyvédi Iroda / KPMG Global Services Hungary Kft., a magyar jog alapján bejegyzett korlátolt felelősségű társaság, és egyben a KPMG International Limited („KPMG International”) angol „private company limited by guarantee” társasághoz kapcsolódó független tagtársaságokból álló KPMG globális szervezet tagtársasága. Minden jog fenntartva.

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