Govʼt orders local council tax freeze

shutterstock

Hungaryʼs government has ordered a local council tax freeze in a decree published in the latest issue of the official Magyar Közlöny, according to economics website novekedes.hu.

Image by Shutterstock.com

The decree, issued with state-of-emergency powers conferred by Parliament, prohibits local councils from raising taxes or introducing new taxes in 2021. It also requires them to ensure the same tax exemptions and tax preferences in effect at present in 2021.

Mayor of Budapest Gergely Karácsony had earlier said that the capital cityʼs leaders were weighing the introduction of a 0.5% "jumpstart" tax on high-turnover business until the capital recovers from the economic crisis caused by the pandemic.

Music

Dániel Franczia, Veszprém’s Master of the Egyptian ‘Goblet Drum’

Deals

Hungary to Acquire Controlling Stake in GySEV

Construction

Hungary’s Construction Activity Falls in July

Government

Hungarian Economy on ‘Cusp of Recovery’, Orbán Says

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For over 30 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.