MPs Approve Tax Changes on Home Construction, Advertising in Hungary

  • 24 Nov 2022 6:49 AM
  • Hungary Matters
MPs Approve Tax Changes on Home Construction, Advertising in Hungary
Lawmakers voted on Tuesday to extend the preferential VAT rate on home construction and exempt advertising companies from a sectoral tax.

MPs approved the legislation extending the temporary 5% home construction VAT rate by two years until the end of 2024 with a vote of 130 for, 32 against and 21 abstentions.

The law extends an exemption from payment of the advertising tax until the end of 2023.

It also introduces progressive rates for the local business tax (HIPA) for small companies and exempts transfers of student loans from the State Treasury from the financial transactions duty.

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