1.5 mln Hungarians eligible for PIT rebate
Photo by Pixabay
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.
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.