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Lawmakers Approve Tax Changes

Parliament

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MPs approved a package of tax changes submitted by the government on Tuesday, according to a report by state news wire MTI.

Lawmakers cleared the changes with a vote of 116 for, 47 against, and 7 abstentions.

The legislation simplifies rules on personal income tax and contributions and streamlines taxation of sole proprietors while ending their treatment as "quasi-companies".

The legislation exempts communications networks from the utilities tax from the start of 2024 and rolls back the tax from the beginning of 2025. It extends the suspension of the advertising tax for another year.

The legislation paves the way for the broad adoption of electronic receipts and contains modifications necessary because of the termination of the double taxation avoidance treaty between the United States and Hungary.

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