The special retail tax will remain until 2026

By: Trademagazin Date: 2025. 06. 26. 13:33

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The new tax package announced recently brings significant changes for both the actors of the Hungarian economy and the population. The legislation raised several provisions previously regulated in emergency decrees to the level of law, and amended the tax and accounting rules already in force on several points. An expert summarizes the most important changes.

According to the government’s intention, the purpose of the law adopted at the beginning of June is to implement the emergency legislation, simplify administration, harmonize European Union law and achieve tax policy goals.

József Vizer, CEO of ICT Europa advisory, highlighted among the changes that the tax package also affects the rules of corporate tax, global minimum tax, value added tax, personal income tax and social contribution tax.

“One of the most important elements of the amendments is that the extra-profit taxes introduced under the emergency decrees will be raised to the level of law and these will be extended to the tax year starting in 2026. This group includes the banking extra-profit tax, the special tax for petroleum product producers introduced specifically for MOL, the insurance surcharge and the retail tax”

– explained the expert.

Banking and financial sector

The rate of the special tax imposed on credit institutions and financial enterprises will be progressive: in 2025, 7% for a tax base of up to 20 billion forints, and 18% for anything above that, which will be increased by 2026: 8% for a tax base of up to 20 billion forints, and 20% for anything above that. The expert highlighted that the tax benefit linked to the purchase of government securities – albeit in a modified form – will still be maintained.

Energy special taxes: sectoral burden to remain

The 95% special tax based on the Brent-Urals price difference for oil products producer MOL, which is applied to crude oil from Russia, will remain in effect. The 41% income tax for energy suppliers will also be extended, but will return to the original 31% rate from 2026.