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Village-dwellers eligible for VAT refunds on home investments

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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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