Legislators Endorsed New Tax Bills and Amendments

An old debate has reached its end when the real estate tax was accepted by the cabinet and the Parliament has endorsed the bill.

An old debate has reached its end when the real estate tax was accepted by the cabinet and the Parliament has endorsed the bill and its amendments. According to the biggest Hungarian daily Nepszabadsag, all private properties fall under the regulation. Real estates with a value up to HUF 30 million will tax an annual 0.25 pct, while the ones between HUF 30 million and 50 million generate an annual 0.35 pct obligation to the owner. The highest class has a HUF 50+ million and will tax 0.5 pct. The real estate tax law and its amendments do not bring leverage to bear on industrial and business properties.
Other laws also intend to cast tax on consumption and values, but ease the burdens on employment. The totemic extra-wage benefits, like hot and cold meal vouchers lost their tax-exemption, while the personal income tax decreased by 1 pct to 17 pct in the lower bracket, which has a raised threshold at HUF 5 million.

 

News Monitoring