The Hungarian parliament has approved an increase in the top progressive rate for the retail turnover tax from 2.5% to 2.7%. The progressive rates are based on the net retail turnover in the previous year, with the top rate applied for annual turnover exceeding HUF 100 billion. Bill T/17882, which provides for the increase, was sent for the signature of the president on 19 December 2021. The increased top rate will be effective from 1 February 2022.