Village-dwellers eligible for VAT refunds on home investments
Finance Minister Mihály Varga on Friday said Hungarians who build, expand or renovate homes in villages may apply for VAT refunds on their investments up to HUF 5 million from the start of next year, state news wire MTI reports.
The refunds will be available until June 30, 2022, Varga said, noting that details have been published in a decree in the latest issue of the official gazette Magyar Közlöny.
The preference will be available in 2,486 communities.
Varga said the step is part of a package of measures the government is implementing to shield the economy from the impact of the slowdown in Europe.
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