On 22 July 2010, the parliament approved amendments to tax laws by way of a bill No T/581 (the Bill) and a bill on sport subsidies. When promulgated, the amendments generally take effect on 1 July 2010, unless otherwise indicated below. The major amendments regarding corporate taxation include.
The lower 10% tax rate that applied in respect of income up to HUF 50 million, subject to stringent conditions, will now apply unconditionally. The higher 19% tax rate continues …