Hungary: Deductible expenses

Alessandro PasutAs part of the tax package published last 2013, the scope of deductible expenses for local business tax purposes is extended. According to the amendment, 7.5 per cent of the toll paid and accounted for as expense or cost by shipping companies in the financial year in relation to the usage – based on the actual distance travelled – of highways, motorways and main roads will be considered as deductible from the local business tax payable to local governments of the seat or permanent establishment of a company. Telecommunication tax. The amount of the telecommunication tax payable by the service providers has been raised from 2 HUF to 3 HUF per minute for each initiated phone call and per message sent. The monthly amount of tax payable is limited to HUF 5,000 for non-private household while previously is was HUF 2,500. Financial transaction tax. The tax rate for cash payments from payment accounts and from payment accounts using bank cards is increased from 0.3% to 0.6%. However, in this case the maximum limit of the tax of HUF 6,000 per transaction is abolished.

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