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Extra profit taxes in Hungary – SME INFO HU Nr.2022-01

In order to make up for the budget deficit and to maintain the reduction in utility costs, the Government has imposed special taxes in several areas, which are laid down in Government Decree 197/2022 (4.VI) on Extra Profit Taxes (hereinafter Government Decree). It should be noted that most of the special taxes, contrary to the name of the Government Decree, do not tax profit, but e.g. sales revenues, number of passengers, and there are also amendments which do not impose a special tax, but modify the current tax rate or extend the scope of taxpayers. Most of the special taxes are for the tax years 2022 and 2023, but there are amendments for which there is no time limit. The changes we consider important are presented in detail, the others are only mentioned.

The full versions of the newsletters are available as pdf either in English and Hungarian:

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Content of downloadable newsletter


I Special taxes

a) Special tax on credit institutions and financial enterprises

b) Special tax for the energy sector

c) Special tax from renewable energy sources

d) Contribution from airlines

e) Special tax on distributors of medicinal products

f) Deviation from the rules of Act LXVII of 2008 on making district-heating more competitive

g) Deviation from the rules of Act LVI of 2012 on Telecommunications Tax

h) Additional insurance tax

i) Retail sales tax – (One-off additional tax of 80% and Increased retail tax)

j) Deviation from the rules of Act XLVIII of 1993 on mining, and the specific value of mineral raw materials and geothermal energy and the calculation of the value of different application of Government Decree 54/20080. III.) on the determination of the method of value calculation


II  Transaction duties

a) Obligation of investment firms and credit institutions to pay transaction duties

b) Financial transaction duty (extending the scope of taxable persons and increasing the maximum amount of the duty).


III. Other tax changes

a) Company car tax

b) Deviation from the rules of Act LXXV of 2010 on simplified employment (EFO Act)

c) Deviation from the rules of Act CIII of 2011 on the Public Health Product Tax (NETA)

d) Excise duty (Several amendments to the Excise Tax Act (Act LXVIII of 2016 on Excise Tax).