New government edict came into effect due to the pandemia
Government Edict 140/2020 (IV. 21.) which will come into effect on 6th May 2020 contains significant taxation and yearly reporting relieves (corporate income tax, local turnover tax and financial reporting).
Due dates are postponed till 30ht September 2020
Due date of tax reporting and payment obligations listed below are postponed till 30th September 2020:
- Corporate income tax
- Small enterprise tax (KIVA)
- Local turnover tax
- Innovation contribution
Yearly financial statements
The due date of the submission of yearly, simplified yearly and simplified micro yearly financial statements are also postponed till 30th September 2020.
The tourist tax emerged during 2020 should be declared till 31st December 2020 but not paid.
Personal income tax and Social Contribution Tax
If Social Contribution Tax (SZOCHO) should be paid on any of the incomes that fall under the personal income taxation (SZJA), the tax basis is reduced from 100% to 87%.
The percentage of Social Contribution Tax is also reduced to 15,5%
KATA and KIVA
For those Small Taxpayers’ Tax (KATA) subjects who carry out their activities as a main activity, the basis of social benefits raises to 102.000.-HUF (in case of 50.000.-HUF monthly KATA) and 170.000.-HUF (in case of 75.000.-HUF KATA).
KIVA rate is decreased to 11%
If you have further questions or would like to request and inquiry, please feel free to contact us.
Tel: +36 20 548 4103