Évosz Urges Launch of Home Renovation Support Scheme

Construction

Construction association Évosz urged the launch of a home renovation support scheme and restarting the Green Home Program of the National Bank of Hungary (MNB) in a press release issued this week.

The association said a home renovation support scheme started in the spring would allow for energy efficiency upgrades ahead of the heating season. It recommended expanding the MNB's Green Home Program to home renovation. 

Évosz also proposed allowing employers to offer their employees grants or credit of up to HUF 10 million for home purchases and HUF 5 mln for home renovations free of payroll tax. It urged an indefinite 5% preferential VAT rate for home construction. 

The association estimated that around HUF 260 billion was paid to home renovators on the black market last year, resulting in HUF 70 bln in lost VAT revenue.

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