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MORE THAN 315,000 COMPANIES OPT FOR SMALL BUSINESS TAX

 

The number of Hungarian companies opting to pay the itemised tax for small businesses, known by its Hungarian acronym “kata”, stood over 315,000 on January 1, Finance Minister Mihály Varga said. Businesses that opt for kata pay a flat monthly 50,000 forints (EUR 155) instead of corporate or payroll tax. The annual revenue threshold for kata companies is 12 million forints. Varga noted that the annual VAT exemption threshold had been raised from 8 million forints to 12 million, level with the kata revenue threshold, from 2019.