Ministry of Finance
News
Contactless payment limit raised to fifteen thousand forints, this, too, serves to slow down spread of the virus
Ministry of Finance, March 24, 2020 11:44 AM
Due to the epidemic, in the case of contactless card purchases, the government has raised the limit relating to the mandatory use of PIN numbers from HUF 5,000 to HUF 15,000. According to preliminary estimates, almost 90 per cent of all transactions could be carried out without customers’ hands coming into contact with the POS terminal. This measure, too, serves to slow down the epidemic as it reduces the need for customers using bank cards to come into physical contact with the terminal – touched by many other customers – for the purpose of typing in their PIN numbers.
Hungarian banking system is prepared for debt repayment moratorium
Ministry of Finance, March 23, 2020 2:49 PM
The Hungarian banking system is prepared for the extraordinary situation and the attached special measures such as the debt repayment moratorium, the Finance Minister said following a meeting with representatives of the Hungarian Banking Association.
The Hungarian banking system is prepared for the rescheduling of loans
Ministry of Finance, March 19, 2020 2:12 PM
“The government wishes to protect against the effects of the state of emergency caused by the coronavirus epidemic on the economy and jobs through rapid measures; there will be continuous consultation between the Banking Association and the government”, Minister of Finance Mihály Varga emphasised.
EU finance ministers discuss fight against coronavirus epidemic
Ministry of Finance, March 17, 2020 3:26 PM
“The existing plans for 2020 must be put aside for the moment; the coronavirus represents a danger to both the people and the economy, and accordingly the fight against its spread overwrites all previous economic policy efforts”, Minister of Finance Mihály Varga said following and expanded video conference of Eurozone finance ministers.
The tourism and hospitality sectors will be seriously affected by the coronavirus epidemic
Ministry of Finance, March 11, 2020 4:38 PM
“The government is calculating with a growth scenario of between plus 3.7 percent and minus 0.3 percent for 2020, depending on the effect – its severity and prolongation – that the coronavirus epidemic has on the global economy”, Minister of Finance Mihály Varga said on Tuesday on Inforadio’s Arena show. According to Mr. Varga, the worst-case scenario must also be examined.
The government will protect the results of the Hungarian economy
Ministry of Finance, March 10, 2020 8:00 PM
“The government is ready to protect the results of the Hungarian economy, and to preserve the growth advantage it has achieved within the European Union, with economic policy measures”, Minister of Finance Mihály Varga said on Tuesday in Budapest at the economic year-opener held by the Hungarian Chamber of Commerce and Industry.
Court of Justice of European Union finds sector-specific special tax lawful
Ministry of Finance, March 3, 2020 4:33 PM
The judgments passed today have clearly concluded that in the future large corporations will not be able to raise objections to having to pay proportionately higher taxes than small businesses with a substantially lower economic potential.
Levying tax on Google was lawful
Ministry of Finance, March 3, 2020 4:31 PM
Based on today’s judgment of the Court of Justice of the European Union, Google could not have avoided its tax payment liability in relation to the Hungarian advertising tax. The Court ruled that the legislation regarding the submission of tax declarations is not contrary to the EU principle of the freedom to provide services. At the same time, the method by which fines are imposed due to non-compliance with the obligation to submit tax declarations leads to a breach of EU law.
10 trillion forints in investment was realised last year
Ministry of Finance, March 2, 2020 1:55 PM
The Hungarian economy is currently the fastest growing economy in the European Union and achieved almost 5 percent growth in 2019, to which a strong 14 percent increase in investment also contributed significantly.
Money Week programme launched to improve financial and business knowledge of 200 thousand students
Ministry of Finance, March 1, 2020 8:00 PM
“The most important goal of the government’s strategy concerning the development of financial awareness is to provide Hungarian families with the knowledge required for everyday life, to plan savings and with relation to the various forms of self-reliance”, Minister of Finance Mihály Varga emphasised at the opening event of the Pénz7 (Money Week) series of programmes.