Act No. 2022/XLV on the Amendment of Certain Taxation Laws has been announced in the issue of 2022/192 of the Hungarian Gazette dated November 23, 2022, which also includes the modification of Act No. 2014/XXII on the Advertising Tax by prolonging the suspension of the advertising tax for an additional year. The Act came into force on the day following its announcement, i.e. November 24, 2022.
As previously advised, the Government had announced at the Government Briefing on May 26, 2022, as part of a larger tax package, they had decided to reimpose the previously suspended advertising tax. The Government hoped for a budget revenue of HUF 15 billion in 2023 from bringing back the advertising tax.
However, based on the initiative indicated by the Hungarian Advertising Association (MRSZ) and its partner associations, the Government decided to extend the deadline for the application of the current regulations, i.e. the further suspension of the tax by an additional year, which the Parliament has approved by adopting the aforementioned law, so the tax rate will remain 0% of the tax base until December 31, 2023.