Hungarian government reduces tax on crypto profits from 30.5% to 15%. Hope other governments reduce them too from the current one.

Some of the highlights:

  1. reduce the tax burden on wages: from July 2022, the social contribution tax rate will be reduced to 15%, and the vocational training contribution will be included in the tax while maintaining the benefits – the tax rate on labor will be reduced by 2 percentage points and the tax system will be further simplified, HUF 250 billion per year leaving to businesses,
  2. easier and cheaper will be the flat tax, the future annual minimum wage ten times, in case of retail activity in the ötvenszereséig will be optional, thus taxpayer entrepreneur does not have to pay personal income tax on the annual minimum wage felééig, and live in the family tax benefit possibility – the measure of 70 thousand entrepreneurs represent ease,
  3. as a third step, they will help market players actively involved in relaunching the economy: from next year, venture capital fund managers and stock exchanges will not have to pay a special tax,
  4. it helps to maintain the overhead reduction so that energy suppliers can deduct their losses from their pre-tax profit for the next five tax years,
  5. last but not least, the government is taking a significant step towards bleaching revenues from cryptocurrencies: the current tax burden of 30.5% could be reduced to 15% – this could bring billions of forints to the budget.

Article link: https://www.portfolio.hu/gazdasag/20210511/adocsokkenteseket-jelentett-be-a-kormany-ket-szektor-kulonadoja-is-megszunik-482672#

The article is in Hungarian.

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