Hungarian Tourism Agency: Government support to sector ‘outstanding’ in European comparison

Government support for Hungary’s tourism sector of 800 billion forints (EUR 2.2bn) “is outstanding in European comparison”, the Hungarian Tourism Agency said in a statement on Wednesday.

The tax holiday for service providers in the case of development contributions and tourism tax has been extended to the end of the special legal order expiring on Feb. 8.

The aim of the support is to alleviate the burdens of the sector which has been most hit by the coronavirus crisis, and to help companies survive and preserve jobs in a period when commercial accommodation providers and restaurants are not allowed to have customers, it added.

The agency said the sector represents 13.5 percent of Hungary’s GDP, employing some 400,000 people.

At the same time, the statement noted that

companies will be expected to pay the taxes retroactively unless the amount due for the period is zero.

As we wrote a week ago, the number of foreign visitors to Hungary was down by 50 percent in the third quarter of this year compared to the same period last year and they spent 54 percent less, details HERE.

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Source: MTI