Summer tax package 2020

Before the beginning of the summer break, the Parliament has amended several tax laws and adopted new rules as well. The most important changes are summarized in our newsletter below.

Andersen rebranding – special note from Karoly Radnai, Office Managing Director of Andersen Adótanácsadó Zrt., founder of OrienTax

Andersen Debuts in Hungary

Hungarian tax consulting company, OrienTax Zrt. and Szabo Kelemen & Partners Attorneys will adopt the Andersen brand in Europe and continue their activities jointly.

COVID-19 – New Surtaxes Introduced – HUNGARY

In order to enhance the financial sources of the Government to be spent on the actions against the coronavirus pandemic, special surtaxes have been introduced for banks and retailer chains.

COVID-19 – Support on Job-retention – HUNGARY

High anticipation has preceded the newly announced  package of actions developed for job preservation, which is introduced below.

COVID-19 – Extraordinary State Aid for New Investments – HUNGARY

To offset the negative economic effects of the coronavirus epidemic – with more favorable and simpler regulations than ever before -, the government has announced a competitiveness-enhancing…

Further measures to mitigate the economic impacts of the coronavirus pandemic

On April 4, 2020, the government introduced the epidemic prevention fund, to cover the cost of epidemic protection. The following steps serve to cover the HUF 663 billion budget of the fund. 3 and 2024 as well.

New legislation process during emergency period

Pursuant to a new legislation passed by the Parliament of Hungary the following shall apply from here on until the revocation thereof by the Parliament upon the termination of the state of danger.

New state aid opportunities due to coronavirus

State aid up to EUR 800 000 per company might be available to mitigate the economic damage caused by the COVID-19 epidemic, based on the so-called “Temporary Framework”…