Tax Alert - Favourable amendments in relation to VIP cash grants

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Dear Client,

In order to reboot the Hungarian economy, the below favourable amendments have been enacted:

The minimum investment value has been decreased to EUR 5 million (from EUR 10 million) in case of investments project to be carried out in Somogy and Jász-Nagykun-Szolnok counties.
VIP cash grants relating to R&D projects are now available
— if the eligible costs are exceeding EUR 1 million (instead of the previous EUR 3million threshold), and
— the R&D headcount is increased by 10 employees (instead of the previous 25).

The above new rules could be applicable with regards to subsidy procedures initiated after 3 July 2021.

Should you have any questions with regards the above, please contact Zachár Gábor, Tax Partner or contact your usual tax advisor at KPMG’s Tax Department.

Thank you and kind regards,

Gábor Beer

Senior partner,

Head of Tax & Legal

Gábor Zachár

Partner,

Tax & Legal

András Németh

Partner,

Tax & Legal

Árpád Varga

Director,

Tax & Legal

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