Accounting, Payroll, Tax & Legal since 1989

FIRST ECONOMIC AID PACKAGE

The first financial package of immediate measures in response to the coronavirus crisis was announced on 18 March by the government of Hungary.

  • The payback of all loans given to individuals and companies is suspended until end of the year.
  • All short-term business loans are extended until end of June.
  • The new APR on consumer loans taken from now will be capped at + 5% of the central bank base rate.
  • Employers in the most crucial sectors of tourism, hospitality (catering), entertainments, sports, cultural services, and passenger transport are exempt from paying payroll taxes, and their employees do not have to pay pension contribution, while the health insurance premium is reduced to the minimum until June. The tourism development contribution will also be released by 30 June.
  • The regulation of Labour Code will be more flexible. The aim is to make it easier for employers and employees to match.

Follow us here for the latest Hungarian news and publications on the COVID-19 crisis.


20.03.20


Author:   

Ákos Eőry

Ákos Eőry

Managing Director

Mobile: +36 70 621 7595

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

Latest articles

22

Feb

Introduction to Estonia

23

Jun

3 Special Features Of Employee Benefits in 2021...

9

Jun

OSS and iOSS: new VAT registrations in Hungary...

Contact

Email again:
Services