Govʼt exempts hospitality, leisure sector from employer tax

Tourism

Photo by David Tadevosian / Shutterstock.com

The government has exempted companies operating in the hospitality and leisure sector from paying the employerʼs tax burden; in addition to providing about HUF 5 billion in tax relief to those affected in November, this will ensure the retention of their jobs and the payment of their November wages, said State Secretary for Taxation Izer Norbert, of the Ministry of Finance, according to novekedes.hu.

Photo by David Tadevosian / Shutterstock.com

There is no need to submit a separate application or declaration, the state secretary indicated, adding that it will be enough for those concerned to simply tick the fields created for this purpose in their monthly tax and contribution returns.

The November return must be sent by December 12 and the tax must be paid by that date.

According to the calculations of the ministry, almost 15,000 companies will be affected by the exemption, Izer said.

ADVERTISEMENT

CMS appoints new competition partner Appointments

CMS appoints new competition partner

ÁKK sells HUF 38 bln of bonds at switch auction Debt

ÁKK sells HUF 38 bln of bonds at switch auction

Gov't expands investment support program by HUF 30 bln Government

Gov't expands investment support program by HUF 30 bln

English language discussion series: 'FDI Dependent Capitalis... Conferences

English language discussion series: 'FDI Dependent Capitalis...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.