What does the extraordinary tax and contribution discount mean?
In order to mitigate the economic impact of an emergency situation caused by the coronavirus epidemic, the Government issued a decree on 18 March providing almost complete individual contribution exemptions for workers in particularly vulnerable sectors from March to June 2020. There are a number of practical issues surrounding the interpretation of legislation that has been enacted extremely quickly, in connection with which the tax authority is constantly updating its information material.
A detailed list of the sectors concerned and detailed rules for the application of the regulation are contained in a government decree promulgated on 23 March. Regarding the interpretation of the legislation, the tax authority issued a constantly updated information material on 27 March, which answers a number of interpretation questions. The prospectus is available at the following link:
https://www.nav.gov.hu/nav/
Related news
The future of digital banking: personalized customer experience and next-generation technology
The results of Deloitte’s latest Digital Banking Maturity 2024 research…
Read more >EU: the application of international law is also an obligation in cyberspace
The Council of the European Union approved a statement on…
Read more >The expanding transfer price requirements will be followed by an increase in fines this year
Over the past two years, several significant changes have come…
Read more >Related news
Holiday Shopping Study 2024: European Consumers Plan Ahead Amid Economic Pressures
The “Holiday Shopping Study 2024,” conducted by ShopFully and Offerista…
Read more >Oversupply in the office market, returning demand in retail properties and hotels expected in 2025
The Hungarian commercial real estate market is currently characterized by…
Read more >The 3.01-liter soda bottle debate: Not a deliberate circumvention of the system, but a temporary solution
Regarding the controversy surrounding the 3.01-liter soft drink bottles appearing…
Read more >