President Katalin Novák on Monday signed into law the amendments to the tax for small business owners (kata).
The legislation prompted protests in Budapest last week.
In a statement, Novák said she had found no reason to refer the law to the Constitutional Court, and “the legislator’s intent is hardly disputable”.
At the same time, “the outrage is palpable,” and many have difficulties in adapting swiftly to the new situation, she said. “I can understand they have questions. It would have been better to decide on the amendments after substantive consultation with the interested parties,” she said.
“I have talked to the prime minister and the cabinet, and obtained a promise that the detailed regulations will provide answers to legitimate questions,” she said.
In these extraordinary times, Hungary’s security is based on budgetary stability, she said. “Cooperation, mutual responsibility and understanding will help us through the worst of it. That is the only way to stay standing,” she said.