Agricultural tax cuts are coming, the government is taking new burdens off farmers’ shoulders

(Photo: drnagyistvan.hu)

He explained that it will be easier to exempt trailers of agricultural tractors from paying taxes, and to supplement the legislation on local taxes, according to which forest properties will be placed in the same category as properties classified as agricultural land. This means that, like agricultural land, no local tax can be levied on forests. He added that it is a further relief that the exemption from duties that can be used when purchasing land will not be affected if some kind of legal easement is registered on the purchased property. He drew attention to the fact that a technical correction is being made in the case of beef. After all, half and quartered beef have already been subject to a 5 percent VAT rate. This will now be extended to beef tenderloin and beef offal. This measure increases sales security and can further mitigate market risks. Farmers affected by early spring frost damage and drought damage will receive additional help. Producers who have registered for the damage mitigation fund can benefit from a one-year loan repayment moratorium, he highlighted.

One additional measure is beneficial to winemakers

A 50 percent excise tax discount is being introduced for small-scale sparkling wine. “We thank the initiative of MP Kristóf Szatmáry, which is also supported by the government. Furthermore, in addition to bottled production, farmers will now also have the opportunity to produce sparkling wine in tank form using their own grapes or wine,” said István Nagy. The Minister of Agriculture stated that these measures will further support the livelihood of farmers and maintain their competitiveness. Nothing can jeopardize food security and daily bread, and therefore they will continue to do everything they can. “Farmers can always count on us!” – István Nagy emphasized.

AM/MTI