Hungary: Changes to “extra profit” surtaxes on financial services and other sector-specific taxes
A decree amending the decree on "extra profit" surtaxes was published in the Hungarian official gazette.
Changes to “extra profit” surtaxes on financial services and other sector-specific taxes
A decree amending the decree on "extra profit" surtaxes issued in June 2022 (read TaxNewsFlash) was published in the Hungarian official gazette and is effective 1 June 2023.
The decree provides for changes to the following surtaxes:
- Surtax on credit institutions and financial enterprises
- Insurance tax
- Retail tax
- Pharmaceutical producers’ extra profit tax
- Pharmaceutical surtax
- Electricity companies’ extra profit tax
- Extra profit tax on manufacturers of bioethanol, amylum and amylum products, and sunflower oil
- Telecommunications tax
- Mining tax
- Social tax on interest income
Read a June 2023 report prepared by the KPMG member firm in Hungary
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