The Hungarian Parliament reportedly approved legislation for the 2020 budget on 12 July 2019. Tax-related measures of the budget include:
- a reduction in the rate of social contribution tax from 19.5% to 17.5% with effect from July 2019;
- a reduction in the rate of small enterprise tax (KIVA) from 13% to 12%;
- the abolition of the simplified entrepreneurial tax (EVA);
- the abolition of advance corporation tax payments for enterprises that realize an annual turnover in excess of HUF 100 million (…