CSOK subsidy recipients to reclaim VAT on new home purchases

Government

Hungarians awarded CSOK subsidies will be allowed to reclaim VAT on new home purchases from the start of next year, Minister for Families Katalin Novák said on public radio on Sunday, according to a report by state news wire MTI.

Novák told Kossuth Radio the measure would save recipients of Home Purchase Subsidy Scheme for Families (CSOK) funding HUF 1.5 million on the purchase of a HUF 30 mln home.

Novák revealed the measure days after the government decided to reintroduce a preferential 5% VAT rate on home construction.

The VAT rate on home construction had been lowered from 27% to 5% for the period 2016-2019, supporting a sharp increase in home builds, although the numbers still fell short of those before the 2008 global economic and financial crisis.

ADVERTISEMENT

Almost half of Hungarians get fringe benefits, survey shows Analysis

Almost half of Hungarians get fringe benefits, survey shows

Gov't to call referendum on child protection measures Government

Gov't to call referendum on child protection measures

Healthcare Roadshow Highlights Innovation, Screening Awarene... Interview

Healthcare Roadshow Highlights Innovation, Screening Awarene...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

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.