Budapest Business Journal
Parliament on Tuesday approved legislation affecting a number of tax changes, according to a report by state news wire MTI. The law was approved with a vote of 124 for, 20 against, and 32 abstentions. It doubles the annual revenue threshold for Small Business Tax (KIVA) eligibility to HUF 3 billion. Businesses that opt for KIVA pay a flat rate on a tax base of payroll expenditures plus dividends and capital transfers. KIVA businesses are exempt from the payroll tax, training tax, and corporate tax.