Gov't expands Start program

Banking

The government approved plans to expand the so-called Start program to assist various disadvantaged groups of society in finding employment, including mothers with young children and the long-term unemployed.

Launched in October 2005, the Start program rewards companies for hiring first-time jobseekers with tax breaks over a two-year period. Start Plusz, one of the newly added features, helps mothers on maternity benefits and those unemployed for over a year return to the workforce by reducing the 33.5% employment tax to 15% for 12 months and to 25% for an additional year.

The Start Extra program offers full exemption from employer taxes in the first year and a reduced 15% rate in the next to the employers of long-term unemployed persons with an additional disadvantage factor such as 50+ years of age, less than 8 years of schooling or living in the poorest areas of Hungary. The new type of Start cards will be available at State Tax Office (Apeh) bureaus from July. (Magyar Hírlap)

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.

Support the BBJ

Finance