XCIII of 1990 on taxes was printed in Thursday’s Magyar Közlöny. modification of the legislation, on the premise of which it will be exempt from the refundable property switch tax from January 1
- the acquisition of properties associated to using the CSOK that may be supplied in small settlements, i.e. the village CSOK, for the possession of the condo and the possession share, and
- the half not exceeding HUF 80 million of the market worth of the condo acquired with CSOK Plus that’s not linked to the village CSOK.
Considering the tax price of 4%, a HUF 40 million and HUF 80 million condo will be tax-free, however a HUF 20 million x 4% = HUF 800,000 tax should be paid for a 100 million condo, even when it was purchased from CSOK Plusz. If, however, the buying couple additionally used a village CSOK, then no tax nonetheless wants to be paid.
Cover picture supply: Getty Images