Govʼt gives payroll tax breaks to farm, food companies

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Hungaryʼs government is giving payroll tax breaks to companies in the farm and food sectors hit by measures to contain the spread of the novel coronavirus, Agriculture Minister István Nagy said at a daily press briefing of the body coordinating Hungaryʼs response to the pandemic on Tuesday, state news wire MTI reports.

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Companies in the ornamental plants business and hunting, as well as producers of wine, spirits made from local fruit and craft beer will be exempt from payroll tax with the exception of the 4% health insurance contribution, which will be capped at HUF 7,710, Nagy said.

The government has also decided to raise the limit on state-subsidized Széchenyi revolving credit farmers take out from HUF 100 million to HUF 200 mln, while increasing the subsidy for interest and fees to 100%, he added.

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