Gov’t to allow small business tax opt-in mid-year

Banking

Hungary's government has decided to let companies opt to pay a small business tax mid-year, rather than only at the start of the tax year, deputy state secretary for tax affairs Ádám Balog said at a forum on Wednesday. The government has proposed small changes to the tax to Parliament, based on feedback that suggests more companies want to switch over to the tax but are still hesitating, Balog said at the event organized by the National Economy Ministry, the National Tax and Customs Authority (NAV) and the Hungarian Chamber of Commerce and Industry (MKIK). So far, 10,000 companies have opted to pay the new tax, he added.

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