Hungary could cut VAT on home construction
The Hungarian government is planning to introduce further incentives to home construction, including the expansion of lending and cutting the value added tax rate in the home construction sector, Hungary’s National Economy Ministry said in a statement sent to national news agency MTI.
The ministry was speaking in reference to the latest construction industry statistics showing the sectorʼs output contracted 6.1% year-on-year in August and fell 3.6% from the previous month, MTI reported, adding that of the total, the construction of buildings fell 5.2% year-on-year and was down a seasonally and workday-adjusted 2.6% on the month. Except for a small rise in June, output in the segment has dropped month-on-month since April.
The volume of construction output in Hungary saw a decrease of 6.1% y.o.y. in August, with the volume of the construction of buildings falling 5.2% and that of civil engineering works falling 6.8%, Hungary’s Central Statistical Office (KSH) reported today.
ADVERTISEMENT
KSH Dismisses Reports of Eurostat 'Investigation'
Hungarian-American Business Chamber Established in Chicago
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.
