Published by Global Banking & Finance Review®
Posted on November 17, 2025
1 min readLast updated: January 21, 2026
Add as preferred source on GoogleHungary announces a $272 million tax cut for small businesses, funded by a bank tax increase. The package includes postponing a fuel tax hike and offering tax benefits to energy firms.
BUDAPEST (Reuters) -Hungary will launch a package of tax cuts worth 80 billion to 90 billion forints ($241.85 million to $272.08 million) for small businesses to be financed with a tax rise on banks next year, Prime Minister Viktor Orban said on Monday.
Orban said the measures would include postponing an excise tax hike on fuel by six months at a cost of 20 billion forints, providing tax benefits to energy companies to modernise infrastucture and cutting taxes for small businesses.
($1 = 330.78 forints)
(Reporting by Gergely Szakacs and Anita Komuves)
A tax cut is a reduction in the amount of tax that individuals or businesses are required to pay, often aimed at stimulating economic growth.
An excise tax is a type of tax imposed on specific goods, such as fuel, alcohol, and tobacco, often included in the price of the product.
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