Hungary eliminates two new types
Hungary eliminates two new types

Today the local government removes two new types of taxes. This measure was taken in order to support the Hungarian citizen by supporting the economy, ease of investment, setting up projects, and making phones and cars in Hungary. ... Today, the Hungarian government removed two types of taxes in order to support local companies, in order to achieve sustainable development and to support the Hungarian economy in the coming period.

As part of the issuance of the economic plan of the liberating government, the government announced today (Monday), the removal of two barriers to expansion that were faced by companies in the previous period.

In turn, the government has said today that, at the present time, the costs often associated with exploring whether to invest in new assets or business models are not deductible for tax purposes, business owners tell us that this can deter them from spending money on finding the best way to do The things". ... In this regard, the government added, "We are changing this matter so that companies can deduct 'feasibility expenses' from their tax bills, including projects that are not being pursued."

This procedure will be included in the draft tax law that will be presented to Parliament early next year, which means that the change can start from the beginning of the next tax year.

While the second proposal announced today (Monday) will change the "rules for the continuity of loss" in Hungary to facilitate the startups attract investment and start working.

According to the rules currently in effect, a one-year loss company can use this loss to reduce its taxable income in the future, but the rules don't work well for startups trying to attract new investments. ... The changes announced today (Monday) as part of the government's economic plan depend on initiatives already announced.