Hungary’s government published tax proposals that, if enacted, would make changes to Hungarian tax law affecting both corporate and individual taxpayers.
The proposed changes to the corporate income tax and dividend tax would:
Among the tax proposals affecting individual taxpayers are new standards for determining the tax residence, and for work assignments at locations different from the workplace. Related to these proposals are measures concerning employer-provided housing benefits. Other proposals would affect retirement plans and social security contributions.
There are other measures concerning the “local business tax” and certain indirect taxes including a bank tax (a special tax on financial institutions), the value added tax (VAT), the excise tax (duty) on fuels and tobacco products, the advertising tax, and the vehicle tax.
Read a May 2016 report [PDF 246 KB] prepared by the KPMG member firm in Hungary: Expected amendments to the tax legislation in line with draft Law No. T/10537
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