674 result(s) for vat
Xpat Opinion: 2015 – Hungary’s PM Viktor Orbán’s Year
- 5 Jan 2016 8:00 AM
- current affairs
In their assessment of last year’s developments, commentators focus on Prime Minister Orbán’s performance – for better or for worse. They recall that the Prime Minister was identified by more than one international outlet as the ‘man of the year’.
Assoc Chief: Hungarian Construction Sector To Pick Up Steam In Coming Years
- 4 Jan 2016 8:00 AM
- property
The construction sector is set to grow in the coming years and the number of new homes built per year could double by the end of the current government cycle, László Koji, head of the association of construction entrepreneurs ÉVOSZ, told daily Magyar Idők. Over the past few years, the government has implemented measures that have generated investments, even by foreign businesses, both in the ...
Mandatory Use Of Online Tills For Hairdressers, Cosmeticians In Hungary
- 3 Jan 2016 8:00 AM
- business
Hairdressers and cosmeticians will be exempt of the mandatory use of tills connected directly to the national tax office, but the industry can expect regular tax inspections as before, daily Magyar Idők said on Wednesday. The government made online tills mandatory for retail shops in 2014 to eliminate VAT fraud as part of its efforts to whiten the economy.
Hungary’s Employer Group Chief: High Tax Rates Hamper Proper Wage Reform
- 31 Dec 2015 8:00 AM
- business
Employment and income tax rates need to be reduced because the current tax system is hampering a proper wage reform, the chief secretary of the National Association of Employers and Entrepreneurs (VOSZ) said. Ferenc Dávid said a gross wage of 100,000 forints (EUR 320) costs the employer approximately 128,500 forints factoring in social contributions while the employee’s net wage ends up being ...
Hungarian State To Grant HUF 10 Million Aid To Couples Agreeing To Have Three Children
- 21 Dec 2015 8:00 AM
- current affairs
The State will grant HUF 10 million non-repayable aid for the purchase of new homes to young couples who agree to have three children within ten years, the Minister heading the Prime Minister’s Office announced at the press conference Governmentinfo 35 which he held jointly with Government Spokesperson Zoltán Kovács.
Budapest Prosecutor Presses Charges In Connection With US Entry Ban
- 21 Dec 2015 8:00 AM
- current affairs
Budapest’s chief prosecutor has raised charges against a suspect believed to have solicited a bribe from US cooking oil producer Bunge in return for influencing Hungarian VAT legislation. Tibor Ibolya said that the suspect known as V.T. had claimed to know Peter Heim, head of Századvég, a think-tank close to the government.
Hungarian Lawmakers Pass Law On VAT Cut For New Home Building
- 16 Dec 2015 8:00 AM
- property
Lawmakers approved a bill to reduce value added tax (VAT) on new-build homes from 27% to 5% between 2016 and 2019. Submitted by Economy Minister Mihály Varga and cabinet chief Antal Rogán, the law states that a 5% VAT rate applies to homes built between 2016 and 2019, mainly applying to blocks of flats built in housing parks with an area of less than 150 square meters each or to standalone homes ...
Budapest To Spend ‘Necessary Amount’ Of A Rising Revenue Share On Public Transport
- 15 Dec 2015 8:00 AM
- getting around
The share of the Budapest municipality in revenues will increase at the expense of the capital’s 23 districts but it will have to spend “the necessary amount” rather than a specified ratio of its dues on providing public transport services under a bill of amendment submitted by the government to parliament. The proposal is in the same bill as a proposed cut of the VAT on home construction, which ...
2016 Year Of Tax Simplifications, Cuts In Hungary
- 10 Dec 2015 8:00 AM
- business
Next year will be dedicated to tax simplification and cuts, with the personal income tax dropping from the current 16% to 15%, the economy ministry said. The cut will result in an extra 30,000 forints (EUR 96) left in people’s pockets in 2016. Family tax allowances for families with at least two children will be increased by 25%, leaving an additional 60,000 forints extra with such families.
Xpat Opinion: 2015 – Hungary’s PM Viktor Orbán’s Year
- 5 Jan 2016 8:00 AM
- current affairs
In their assessment of last year’s developments, commentators focus on Prime Minister Orbán’s performance – for better or for worse. They recall that the Prime Minister was identified by more than one international outlet as the ‘man of the year’.
Assoc Chief: Hungarian Construction Sector To Pick Up Steam In Coming Years
- 4 Jan 2016 8:00 AM
- property
The construction sector is set to grow in the coming years and the number of new homes built per year could double by the end of the current government cycle, László Koji, head of the association of construction entrepreneurs ÉVOSZ, told daily Magyar Idők. Over the past few years, the government has implemented measures that have generated investments, even by foreign businesses, both in the ...
Mandatory Use Of Online Tills For Hairdressers, Cosmeticians In Hungary
- 3 Jan 2016 8:00 AM
- business
Hairdressers and cosmeticians will be exempt of the mandatory use of tills connected directly to the national tax office, but the industry can expect regular tax inspections as before, daily Magyar Idők said on Wednesday. The government made online tills mandatory for retail shops in 2014 to eliminate VAT fraud as part of its efforts to whiten the economy.
Hungary’s Employer Group Chief: High Tax Rates Hamper Proper Wage Reform
- 31 Dec 2015 8:00 AM
- business
Employment and income tax rates need to be reduced because the current tax system is hampering a proper wage reform, the chief secretary of the National Association of Employers and Entrepreneurs (VOSZ) said. Ferenc Dávid said a gross wage of 100,000 forints (EUR 320) costs the employer approximately 128,500 forints factoring in social contributions while the employee’s net wage ends up being ...
Hungarian State To Grant HUF 10 Million Aid To Couples Agreeing To Have Three Children
- 21 Dec 2015 8:00 AM
- current affairs
The State will grant HUF 10 million non-repayable aid for the purchase of new homes to young couples who agree to have three children within ten years, the Minister heading the Prime Minister’s Office announced at the press conference Governmentinfo 35 which he held jointly with Government Spokesperson Zoltán Kovács.
Budapest Prosecutor Presses Charges In Connection With US Entry Ban
- 21 Dec 2015 8:00 AM
- current affairs
Budapest’s chief prosecutor has raised charges against a suspect believed to have solicited a bribe from US cooking oil producer Bunge in return for influencing Hungarian VAT legislation. Tibor Ibolya said that the suspect known as V.T. had claimed to know Peter Heim, head of Századvég, a think-tank close to the government.
Hungarian Lawmakers Pass Law On VAT Cut For New Home Building
- 16 Dec 2015 8:00 AM
- property
Lawmakers approved a bill to reduce value added tax (VAT) on new-build homes from 27% to 5% between 2016 and 2019. Submitted by Economy Minister Mihály Varga and cabinet chief Antal Rogán, the law states that a 5% VAT rate applies to homes built between 2016 and 2019, mainly applying to blocks of flats built in housing parks with an area of less than 150 square meters each or to standalone homes ...
Budapest To Spend ‘Necessary Amount’ Of A Rising Revenue Share On Public Transport
- 15 Dec 2015 8:00 AM
- getting around
The share of the Budapest municipality in revenues will increase at the expense of the capital’s 23 districts but it will have to spend “the necessary amount” rather than a specified ratio of its dues on providing public transport services under a bill of amendment submitted by the government to parliament. The proposal is in the same bill as a proposed cut of the VAT on home construction, which ...
2016 Year Of Tax Simplifications, Cuts In Hungary
- 10 Dec 2015 8:00 AM
- business
Next year will be dedicated to tax simplification and cuts, with the personal income tax dropping from the current 16% to 15%, the economy ministry said. The cut will result in an extra 30,000 forints (EUR 96) left in people’s pockets in 2016. Family tax allowances for families with at least two children will be increased by 25%, leaving an additional 60,000 forints extra with such families.