CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Hungary Proposes Improved R And D Tax Reliefs

Hungary Proposes Improved R And D Tax Reliefs

by Ulrika Lomas, Tax-News.com, Brussels

20 February 2020


The Hungarian Ministry of Finance announced that the Government is considering further tax cuts for businesses, including improvements to the deductions available for research and development spending, following a meeting of the National Competitiveness Council.

According to the ministry, the proposal would enable companies to deduct five times their expenditure on qualifying research and development for local business tax purposes. This would be in addition to existing deductions for spending on R&D. Depreciation costs may also be added to the list of eligible costs that may be deducted from LPT taxable income.

Levied at local level, the local business tax is based on a company's total revenues, minus certain costs, at rates of up to two percent.

The National Competitiveness Council has also proposed abolishing the requirement for businesses to make advanced, estimated payments of their local business tax obligations, which are due each December. If approved, this change would apply from 2021.

TAGS: Finance | tax | business | Hungary | tax incentives | research and development

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »