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Economy & Policy

Tax exemptions helped protect 117,000 jobs in tourism and leisure

Norbert Izer, Secretary of State for Taxation at the Ministry of Finance, reported that 13,500 companies were exempted from the employer's tax burden in November.

Izer recalled that the government had decided on immediate wage subsidies and tax assistance for those sectors that would be severely affected by the curfew and other restrictions imposed starting November 11.

Hospitality and accommodation providers, tour operators, others in the leisure sector and private bus operators were exempted from paying employer taxes from November last year until January 2021. 

Businesses do not have to pay the social contribution tax for employees, the vocational training contribution, the pro rata amount of the rehabilitation contribution and the excise duty on personal payments for November and December 2020 and January 2021, the secretary of state said.

According to tax returns, those involved had saved HUF 3 billion in taxes in one month, the state secretary said, adding those measures ensured employment for 117,000 people. 

In addition to the sectoral tax exemption, Izer highlighted the VAT reduction from 27 percent to 5 percent on takeaway food, which has helped preserve jobs and maintain the functioning of the sector, he stressed. 

The state secretary also said if a contractor forgot to apply for the exemption in his return and the conditions for recourse have been met, he may amend his return. 

The monthly tax and contribution returns for November 2020 can be self-audited until December 31, 2025, he noted.

Source
www.turizmus.com
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