Hungary Maintains Suspension of Advertising Tax Past End of June

Hungary will maintain suspension of a turnover-based advertising tax past June 30, under a government decree published late Thursday.

The tax rate is 7.5% on the portion of a taxpayer’s annual net sales revenue from publishing advertisements that exceeds 100 million Hungarian forint ($321,000).

It was set to zero in mid-2019, but the zero rate was due to expire on June 30 based on current legislation.

The tax targets both traditional publishers of advertising and online advertising platforms publishing ads in Hungary.

• Its reintroduction would have represented a “significant additional burden for taxpayers,” the decree said.