VAT refunds available to Hungarian village investments
Message of the Hungarian Ministry of Finance on tax deduction for the renovation of real estate property in Hungary
VAT refunds available to Hungarian village investments
Starting in 2020, those who build, expand or renovate their homes in Hungarian villages will be able to apply for VAT refunds of up to HUF 5m, the finance ministry recently announced. Residents can apply for refunds, available in 2,486 communities, through June 2022, said Finance Minister Mihály Varga. The move is part of the Hungarian government’s strategy to protect the economy from a European financial slowdown.
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