Break-through! The great agreement was reached in the EU, and Hungary also gave in
12/13/2022 11:00 a.m
The latter, so that in addition to the 9 percent corporate tax, the local business tax is also taken (maximum 2 percent on adjusted sales revenue, quasi-operating profit, and not on profit).
Otherwise, in the case of a company based on direct labor, with a minimal use of products, a profit before tax of 33 percent from the margin down already means an effective tax of 15 percent or above!
In exchange, the heads of state and government will approve the RRF recovery basic program at the European Council meeting, so the EUR 5.8 billion program can avoid the loss of EUR 4.1 billion that occurred in the absence of an agreement.
compared to the previously proposed 65 percent withdrawal, the loss would be only 55 percent for the three cohesion funds involved, i.e. 6.25 billion dollars instead of 7.5 billion dollars, if the European Commission does not accept the remaining criticized points 11+10.
Thus, our positions theoretically improved by 5.35 billion euros overnight. Of course, we still need the approval of the Council of Europe, which seems to be a paper form. We must not forget that there are many legislative points where progress must be made in the coming months, so that EU subsidies can once again flow fully into the country, expected to start around March-June. (source: ERSTE)