SZÉP Recreation Card is the most popular fringe benefit in Hungary. The amounts paid to this card can be used in domestic tourism, catering, recreation, cultural events and various sports activities. At the beginning of the emergency, the normal tax burden of 32.5% was reduced to 15% by suspending the social contribution tax payment on it until end of June. At the same time, the yearly limit of the most favourable tax payment was increased from HUF 450,000 to HUF 800,000 for this year.
A recent government decree extended the tax discount until end of 2020 to promote the domestic tourism, the most bady hit sector of the economy.
It is a very attractive way to keep and promote the employees while helping local economy, too.
We will send you articles keeping you up to date with the latest trends and developments in accounting, taxation or legal fields.