EU issues guidance for a safe return to the workplace

The coronavirus epidemic has shown that implementing appropriate occupational safety and health measures and providing adequate conditions are essential in all sectors regardless of the activity. After the coronavirus outbreak, the European Agency for Safety and Health at Work (EU-OSHA) had published a guidance for the workplace.

New taxes to improve the balance of public finances

The Hungarian Government introduced two special taxes from 1 May 2020 in order to tackle the financial effects of the coronavirus disease: the special tax on credit institutions and the tax on commercial chains. According to the official communication of the Ministry of Finance „the goal is that the burden of these taxes – that contribute to the improvement of the balance of public finances – are borne not by the consumers but by the actors that are capable of such.”

Reduction of the social contribution tax in Hungary

Subsequent to the previous reduction of the social contribution tax effective from 1 July 2019 (17.5%), which is the main labour-related tax burden of employers, the Hungarian legislation further decreases the social contribution tax as of 1 July 2020. In line with the earlier plans, the new tax rate will be 15.5% defined by the modification.

Cash grant up to EUR 800,000 is available for new investments in Hungary

Hungary announced and successfully notified to the European Commission a HUF 50 billion (approximately EUR 140 million) aid scheme in April 2020. The subsidy to improve competitiveness has been designed to help the medium-sized and large enterprises that are active in the manufacturing or business services sector that face difficulties due to loss of income and liquidity resulting from the economic impact of the pandemic.