European Commission Approves Hungary Tax Incentive Aid Regime to Support Clean Industrial Deal

The European Commission (EC) Feb. 3 issued State Aid Case Decision No. SA. 120705, approving Hungary’s Clean Industrial Deal State Aid Framework (CISAF) state aid regime. The decision includes measures to: 1) estimate a budget of 1.6 trillion Hungarian forints (US$5 billion); 2) authorize the provision of aid until Dec. 31, 2030; 3) allow aid for qualifying companies of all sizes, excluding undertakings in difficulty or under aid recovery order; 4) require that investment projects add manufacturing capacity for production of specified net-zero technology final products, or of specified new or recovered critical raw materials for their production; 5) cap ...