Lawmakers Approve Tax Changes
Shutterstock.com
MPs approved a package of tax changes submitted by the government on Tuesday, according to a report by state news wire MTI.
Lawmakers cleared the changes with a vote of 116 for, 47 against, and 7 abstentions.
The legislation simplifies rules on personal income tax and contributions and streamlines taxation of sole proprietors while ending their treatment as "quasi-companies".
The legislation exempts communications networks from the utilities tax from the start of 2024 and rolls back the tax from the beginning of 2025. It extends the suspension of the advertising tax for another year.
The legislation paves the way for the broad adoption of electronic receipts and contains modifications necessary because of the termination of the double taxation avoidance treaty between the United States and Hungary.
Angela Saliba Appointed New Multi-Property GM of Marriott Hu...
Hungary Welcomes Extension of China's Visa Exemption Policy
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
