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Govt proposal would make employer support for FX repayment scheme tax-free

Money paid by employers to employees that supports their participation in an early forex mortgage repayment scheme could be made tax free up to HUF 7.5m per worker under a proposal before Parliament on Monday, spokeswoman for governing Fidesz Gabriella Selmeczi said on Thursday.

The proposal concerns support, not credit, Ms Selmeczi said.

A government scheme launched at the end of September allows early repayment, in full, of foreign currency-denominated mortgages at discounted exchange rates.