Industry news
ÉVOSZ proposals to strengthen the construction industry before the Finance Minister
Finance Minister Mihály Varga held a meeting with László Koji, president of ÉVOSZ at the Ministry of Finance on the extension of the preferential housing tax and the improvement of the competitiveness of Hungarian construction companies, the ministry said in a statement. Following the meeting, the ministry leader underlined:
The construction industry accounts for 6% of the Hungarian economy's output, providing jobs for nearly 400,000 people, which is why the Government is paying special attention to the support and development of the sector.
At the meeting, ÉVOSZ presented the most important challenges and proposals for the sector, which were recently published in our newspaper our newspaper recently reported on. These include, among other things, the extension of the preferential 5% housing tax, improving the competitive position of Hungarian construction companies, and increasing the benefits related to housing support for employees.
The 5 percent VAT scheme is proposed for new residential construction without a time limit. As previously stated, the family home building support schemes, and housing construction more broadly, would be kept buoyant both in terms of demand and construction capacity if the conditions for subsidy and reduced VAT rules were stable and predictable in the longer term.
The union has also called for Magyar Nemzeti Bank to relaunch its Green Home Program, which would be available for renovations, and to offer greater access to employer loans.
As the ministry's statement highlights, the government has supported the performance of the construction industry with a number of measures over the past decade, including the family home creation grant, the baby waiting allowance, tax relief and VAT rebates.Since 2016, more than 267,000 families have received home creation grants worth HUF 840 billion.
Source : Link
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