The Hungarian government has established temporary windfall taxes on extra profits through Government Decree 197/2022 (VI. 4.), which was published in the Official Gazette on 4 June 2022 and enters into force on 1 July 2022. The taxes are implemented in different ways for different company types. Some of the main taxes include the following:
- Financial institutions - a surtax equal to 10% in 2022 and 8% in 2023 on the annual net revenue of the preceding year;
- Petroleum product producers - …