The Government Decree of 197/2022, which regulates extra profit taxation (EPTIPT) in Hungary, has recently been changed. The amendment was issued last Thursday and became effective on January 26, 2024.
This amendment affects the declaration and payment of the 2023 EPTIPT, which was due on January 31, 2024. According to the new rules, the amount of EPTIPT for 2023 must be calculated, declared and paid in two equal halves by January 31, 2024, and July 31, 2024.
Similarly, the EPTIPT prepayment for 2024 was divided into two halves. The first instalment (declaration and payment), based on the January 2024 filed 2023 EPTIPT declaration, is due by May 31, 2024. The second prepayment will be due on November 15, 2024, based on the 2023 EPTIPT declaration and payment settled by July 31, 2024.
For 2024, EPTIPT must be settled by January 31, 2025 and July 31, 2025, again in two equal amounts.
The reclaim rules were also altered. If the prepayment exceeds the final EPTIPT settlement, the excess will only be available for reclaim on July 31, 2024, and July 31, 2025, respectively.
