Hungary: free entrepreneurial zones

An amendment has been passed which makes the social tax incentive more favorable for companies operating in free entrepreneurial zones. Pursuant to the new regulation, as of 1 July 2013 companies are no longer required to make high-value investments in free entrepreneurial zones in order to be entitled for the social tax incentive.

This basically results in the extending the scope of the applicants. However, multiple conditions for the application of the incentive are established. One of the conditions is that the number of employees should not be reduced during the beneficiary period.

Furthermore, new employees should not be taken over from related parties and they should have residence in the concerned free entrepreneurial zone for at least six months. To avoid the accumulation of incentives, the application of the social tax incentive is not allowed in connection with an employee that receives financial aid from the National Employment Fund.Alessandro Pasut

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