The Ministry of Finance in early June 2019 submitted draft tax legislative amendments (No. T/6349 and T/6351) to Hungary's parliament for the current and forthcoming year.
The legislation includes proposals concerning corporate income tax, individual income tax, and value added tax (VAT) among others.
Group taxation
Tax allowances
In relation to the development tax allowance, the applicable minimum present value would be reduced for small- and medium-size companies according to the following schedule:
2020 |
HUF 300 million for small-size companies |
HUF 400 million for medium-size companies |
2021 |
HUF 200 million for small-size companies |
HUF 300 million for medium-size companies |
2022 |
HUF 50 million for small-size companies |
HUF 100 million for medium-size companies |
Other provisions
Read a June 2019 report prepared by the KPMG member firm in Hungary
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