The itemized tax of small taxpayers is becoming increasingly popular

The itemized tax of small taxpayers (kata) is becoming more and more popular. On 1 January 1, more than 315,000 businesses have chosen this tax form that requires minimal administration – Varga Mihály, Minister of Finance said at a press conference on Wednesday in Budapest.

The Minister of Finance explained that in 2019, the value range of VAT- exemption increased further from 8 million HUF to 12 million HUF, which is the same as the revenue of kata. The company that chose the cata is, as a rule, charges all taxes and contributions by paying fifty thousand forints per month and acquires entitlement to cash benefits of social security, he added. (MTI)