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Economy & Policy

15,000 businesses could be exempt from employer tax burdens in November

The government has provided tax relief to companies in the hospitality and leisure sector.

The new decision means some HUF 5 billion in tax relief to affected companies in November; it also ensures the retention of their workers and the payment of those workers’ November wages, Izer Norbert, Secretary of State for Taxation at the Ministry of Finance, said. 

There is no need to submit a separate application or declaration, Norbert indicated, adding that it will be enough for those concerned to simply tick the fields created for this purpose in their monthly tax and contribution returns. The November return must be sent by December 12. 

The companies covered by this measure do not have to pay the November social contribution tax, the vocational training contribution or the pro-rata amount of the rehabilitation contribution. The exemption for the rehabilitation contribution for November can be enforced in the annual tax return, the secretary of state noted.

According to the calculations of the Ministry, almost 15,000 companies will be exempted from this tax burden, and those affected will not have to pay a total of HUF 5 billion in taxes due to this assistance, he added. 

The benefit is available to enterprises that earned at least 30 percent of their income between May 10 and November 10, 2020, from hospitality and leisure activities. Companies receiving the relief cannot lay off their employees and must pay their employees’ November salary, Izer reiterated.

The government wants to protect human life and health and ensure that workers receive their pay even during this downturn, he added. 

Source
www.novekedes.hu
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