Hungary Parliament Considers Bill to Introduce Income Tax Exemption for Mothers With Three Children

The Hungarian Parliament March 28 accepted for consideration Bill No. T/11358, to introduce an income tax exemption for mothers with three children. The bill includes measures to: 1) explain that private individuals claiming the specified benefit may reduce their determined consolidated tax base; 2) specify that eligibility for the tax reduction is not dependent on the mother’s age; 3) explain that an individual’s entitlement to the benefit commences on the first day of the month in which she qualifies as a mother raising three children and terminates on the last day of the month in which she no longer qualifies ...