1.5 mln Hungarians eligible for PIT rebate

Government

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As many as 1.5 million Hungarians could be eligible for a personal income tax rebate conditional on economic growth, adding up to HUF 600 billion, Márton Nagy, the prime minister's economic advisor, said on TV news channel M1. 

Earlier this week, Prime Minister Viktor Orbán had told an economic conference he would propose a full PIT rebate this year for parents raising children whose income is below the average if GDP growth reaches 5.5%. 

Nagy said that the measure could leave taxpayers with an extra HUF 400,000 on average. He noted that the Ministry of Finance calculates with a GDP growth rate of 4.3% this year and said every single percentage point over that projection translates as HUF 250 bln of fiscal leeway, ensuring sufficient coverage for the rebate. 

Nagy suggested GDP growth could exceed 6% this year.

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