The Hungarian government has amended the Excess Profits Tax Decree to introduce a special tax on pharmaceutical manufacturers in proportion to their turnover. This will bring significant extra revenue to an otherwise struggling public budget in 2023.
On the last working day before 24 December, a total of 420 pages of new legislation or amendments to legislation were published in two different issues of the Hungarian Gazette. One of the most interesting of these is a government decision to supplement the excess profits tax decree published in the summer with a new type of special tax, Portfolio reports.
The essence of this government decision is that the pharmaceutical manufacturer is obliged to assess, declare and pay the special tax for the tax years 2022 and 2023 as provided for in this paragraph.