Economic rescue package

This newsletter is to inform you about the economic relief package published last week by the government and aimed at alleviating the economic damage caused by coronavirus epidemic.

Based on the package taxpayers engaged in

• Taxi operation (NACE 49.32)
• Accommodation services (NACE 55)
• Food and beverage service activities (NACE 56)
• Creative, arts and entertainment activities (NACE 90)
• Sports activities and amusement and recreation activities (NACE 93)
• Gambling and betting activities (NACE 92)
• Motion picture, video and television program production, sound recording and music publishing activities (NACE 59)
• Organization of conventions and trade shows (NACE 82.30)
• Publishing of newspaper (NACE 58.13)
• Publishing of journals and periodicals (NACE 58.14)
• Programming and broadcasting activities (NACE 60)
• Travel agency, tour operator and other reservation service and related activities (NACE 79)
• Physical well-being activities (NACE 96.04) if the service provider complies with the rules of the 37/1996. (X. 18.) NM decree
• Inland passenger water transport (NACE 50.30)

and at least 30% of their revenue derived from this activity in the six months before 24 March 2020 are granted the following reliefs for March, April, May and June 2020:

1. Social contribution tax:
   disbursers have no social contribution tax payment obligation after the employed natural persons and no social contribution tax liability for private entrepreneurs and business partners having regard to such status.
2. Employee contributions:
   only 4% in-kind health insurance contribution is payable in terms of employees, private entrepreneurs and business partners on the income subject to contribution payment, but the maximum amount is HUF 7.710.
3. Vocational training contribution:
   no vocational training contribution payment obligation with respect the above mentioned persons.
4. Rehabilitation contribution:
   taxpayers subject to rehabilitation contribution pay a 2/3 amount of the statutory rate and no tax advance payment liability in this regard.
5. Small business tax:
   if the above activities are carried out by taxpayers subject to small business tax, personal costs are not considered as tax base.

Further benefit for taxpayers subject to tourism development contribution that they do not have to pay the amount of contribution for the period of 1 March – 30 June 2020.

This document can be downloaded in PDF format by clicking on this link: Economic rescue package