Grant Thornton Hungary Newsletter

Following the autumn tax package, the Parliament accepted new tax law changes (T3620, T3624) today (12 December 2018). The changes are favourable for taxpayers with tax losses as well as for professional sportsmen applying the simplified contribution to public revenues.
 
CORPORATE INCOME TAX
 
According to the currently applicable rules, tax losses generated in tax years between 2004 and 2014 may be utilized in the tax year that involves 31 December 2025 at the latest. The changes extend this deadline, namely the “old” tax losses may be utilized by taxpayers the latest in the tax year that involves 31 December 2030.
 
SIMPLIFIED CONTRIBUTION TO PUBLIC REVENUES (SCPR)
 
The revenue limit for the application SCPR was increased from HUF 250 million to HUF 500 million in the case of professional sportsmen.
 
OTHER CHANGES
 
As a result of the amendment of the energy related laws, the respective sections of the corporate income tax rules and the rules related to the income tax of energy suppliers have also been amended.

Timea Zednik

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