Mária Lakatos

Taxation in General: Hungarian Tax System

Measures taken against COVID crisis influences

The economic downturn due to the COVID -19 virus was alleviated by the temporary measures, which first increased the amount of the cafeteria benefits to HUF 800,000, transferred firstly between 22 April 2020 and 30 June 2020, and the employer did not have to pay the social contribution tax, which was then still 17.5 percentage. In the private sector, instead of the previous HUF 450,000, HUF 800,000 could be transferred to SZÉP cards (Szechenyi leisure cards), while the HUF 200,000 limit for those working in the public sector has increased to HUF 400,000.

However, the decline in foreign tourism triggered an amendment to the system set out in another government decree, so that the complete release of social contribution tax and the increased thresholds were valid up till the extended time of 31 December 2021.

Last year, the limits of the three sub-accounts were as follows:

subsidies wired to the subaccount of the accomodation up to HUF 400,000 / year (instead of HUF 225,000),
subsidies wired to the subaccount of catering up to HUF 265,000 / year (instead of HUF 150,000),
subsidies wired to the subaccount of the leisure-time up to HUF 135,000 / year (instead of HUF 75,000).

Taxation in General: Hungarian Tax System

Tartalomjegyzék

Kiadó: Akadémiai Kiadó

Online megjelenés éve: 2022

ISBN: 978 963 664 137 5

Taxation is a scheme for the state to provide revenue. The so collected money could then cover the public spending of the government. These are the so-called allocative and redistributive functions of the state budget. Although, taxation theory discusses the various tax types and analyses the various taxation tools very extensively, there is no absolute answer to the question, when and what type of taxation system would be optimal. Thus this introductory book on taxation deals with the three basic types of taxes - the income tax, the VAT and the corporation tax - in a very pragmatic way. There are legal texts and cases from both the international and also from the relevant Hungarian practice.

This book is recommended not only for students of economics but also for law students and practitioners beside anyone who is interested in the basic regulations of taxation.

Hivatkozás: https://mersz.hu/lakatos-taxation-in-general-hungarian-tax-system//

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