Only a fraction of companies paid the global minimum tax in Hungary

Hungarian corporations reported only 52.4 billion HUF in global minimum tax supplements for 2024, falling short of the government's expected 96.4 billion HUF. The global minimum tax aims to impose a minimum 15% tax on profits of corporate groups with consolidated revenues over 750 million HUF. However, only 3.8% of tax returns indicated a payable supplement. The government anticipates a 240 billion HUF increase in corporate tax revenue by 2027, driven by tax reforms. Proposed changes include raising the corporate tax rate from 9% to 15% for companies with revenues over 500 million euros, potentially offset by local business taxes. The actual revenue impact remains uncertain, particularly for companies already paying the minimum tax.