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Details Of The Measures Vol. 1

There are several points in the second economic aid package that have direct or indirect impact on the operation of the businesses. We highlight them one by one as far as they are known at the moment.


  •  Wage subsidies for May to July, 3 months

This part is not fully confirmed yet, many details should be cleared soon. This is what we know now.

There is a state subsidy for shortened work. For the duration of the inevitable downtime, the Hungarian state will take over 70% of the salary for three months. The aim is not to simply keep  employees at home, but also to create added value for the company without losing their jobs like home office or trainings with distance learning. When the economy starts again, the necessary employees will be available. If a company loses 15 to 50% of its “workload” due to the crisis, the state subsidises 70% of the wage costs at this time. It can be claimed at the regional district offices, where it will be judged.

The government provides a 40% wage supplement for engineering and R&D workers for 3 months because part-time work cannot be interpreted in their case. The government is working to maintain research and development capacity.

  •  Tax reliefs
VAT refunds are accelerated to 30 days for a normal taxpayer and 20 days for a reliable taxpayer.

Special deferred and installment payment options will be introduced to facilitate tax payment, and taxpayer rating will not cause legal disadvantages due to omissions during an emergency.

Social contribution tax payable on the gross salary will drop by 2% to 15.5% from July as is was planned.

  •  Extended deadlines
Since it is not possible to hold general and board meetings, the deadline to publish the yearly financial statements and the related tax returns is extended from 31 May to 30 September.

  • New options in the electronic road transport control system (EKÁER)
A guarantee waiver will be introduced in the EKÁER system, and the option of automatic repayment will also be implemented.

  •  Insurance of the unemployed
The public insurance coverage of those who lose their job during an emergency will not be terminated.

  •  Sick leave
The administration of sick leave will be online, paper documents will not be necessary.

  •  Distance learning
There are many options of online distance learning, especially in the various IT fields. The state takes over 95% of the tuition fees to alleviate the shortage of IT professionals. The students can even apply for an interest-free loan to cover the costs.

  •  Tourism
Tourist tax is suspended until the end of the year.

The tax on the most popular fringe benefit "SZÉP card" is cut to 4% until June.

We will share further details as they are published.


08.04.20


Author:   

Ákos Eőry

Ákos Eőry

Managing Director

Mobile: +36 70 621 7595

Skype:eoryakos
Email: akos.eory(at)leinonen.hu

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