Latest local tax measures introduced to bring stability for businesses in 2021

On December 1, 2020, Government Decree No. 535/2020. (XII. 1.) introduced local tax measures to mitigate the effects of the coronavirus pandemic on the national economy.

According to this Decree, local governments will not be allowed to raise the rates of their currently applicable local business taxes, nor will they be able to withdraw any tax exemptions and reliefs currently available to taxpayers.

Businesses should not be afraid of any new type of local taxes introduced in 2021 either, since the Decree prohibits local governments from doing so in the 2021 tax year.

With these measures, businesses will be able to plan for the future more confidently in these otherwise uncertain times.

In case you have any questions on the above, don’t hesitate to contact Róbert Dezső.