PM Magyar Announces Wealth and Small-Business Tax Details
19 Articles
19 Articles
Prime Minister Péter Magyar announced significant changes regarding the Kata taxation on his Facebook page.
Assets over 100 billion will be taxed at a rate of 1.5%, but there will be items that can be written off from the tax and tax base. The very preferential tax exemption for professional athletes will be abolished, and from now on the qualifying income limit will be 60 million per year instead of 500 million per year.
Prime Minister Péter Magyar made important announcements. In his video statement, he also touched on wealth tax, changes to KATA taxation, and the abolition of tax relief for athletes.
Hungary's government has proposed a wealth tax that would affect people with assets of more than 1 billion forints ($3.08 million), the government said on Tuesday. Hungary: Magyar government proposes tax on the ultra-rich with assets of more than 1 billion forints - ΙΝΑΦΤΕΜΟΠΟΡΙΚΙ
The wealth tax will be two-band, the possibility of choosing the itemized flat tax for small taxpayers will be significantly expanded, and the exemption in the simplified public burden contribution will be abolished. All this was announced by Péter Magyar in his Facebook video on Tuesday afternoon.
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