Hungary introduces sector specific taxes to companies generating "extra profits"


On 25 and 26 May, the recently re-elected Hungarian government announced new sector specific taxes for 2022 and 2023 as a response to difficulties caused by the war in Ukraine and the increased prices of raw material.

According to current information, the following eight sectors will be affected by the new taxes:

  • Bank sector:
  • Insurance sector:
  • Energy sector:
  • Retail sector:
  • Telecommunication sector:
  • Airlines:
  • Pharmaceutical distribution sector:
  • Advertisement tax:

In addition to the above, the government expects to collect additional resources through the increase of the company car tax; the excise duty rates on tobacco products and alcohol; the public health product tax; and the tax payable after workers under the simplified employment scheme.

Further details about the new taxes will come after the respective rules are officially adopted and announced in the official Gazette. For more information on taxation in Hungary, contact your regular CMS advisor or local CMS experts.

The article was co-authored by Diána Galambosi.