Hungary published Government Decree 356/2024 in the Official Gazette on 21 November 2024, which amends Government Decree 197/2022 on temporary windfall taxes on extra profits. This includes the termination of several windfall taxes, as well as the modification and extension of certain others in 2025.
The windfall taxes that are terminated include:
- The windfall tax on net turnover of oil producers, although the windfall tax based on the Brent-Ural spread is maintained;
- The windfall taxes on…