Hungary published Government Decree 317/2023 in the Official Gazette on 17 July 2023, which amends Government Decree 197/2022 on temporary windfall taxes on extra profits. One of the main amendments is the extension of the windfall tax on producers of petroleum products. The 2.8% tax on net sales revenue determined on the basis of the annual report for the 2022 tax year is extended to the 2023 and 2024 tax years, although the applicable rate will be reduced to 1.0% for 2024.
Another importa…