The finance ministers of the European Union Member States
support the request of the Hungarian Government relating to the tax
reduction and simplification for small enterprises. According to
this decision, the limit for VAT exemption for small enterprises
might be increased to HUF 12 million. This legislative amendment
would affect more than 600,000 taxpayers. If the Hungarian
Parliament adopts this change, this amount will be equal to the
income limit of the taxpayers falling under the scope of the Act on
the Fixed-Rate Tax of Low Tax-Bracket, which is also HUF 12
million. Due to this change, the companies with a revenue up to HUF
1 million per month could also apply for this type of tax
liability.
