December 15th, 2009
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Employers splash out on holiday gift vouchers as gov’t Grinches prepare 98% tax for new year

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grinch.jpgThis year, Hungarian employers are seen expanding their giving of gift vouchers to employees as Christmas bonuses by 10%, writes napiingatlan.hu, based on data collected by Sodexo Pass Hungária Kft. In addition, 8% more employers chose this form of bonus. The reason for the higher amount of gift vouchers being distributed is probably that these will no longer bee tax-free starting next year.

Currently, employers can give vouchers three times a year in the amount of Ft 7,150 (€26) before being liable for any taxes or social contributions. From next year, they will be taxed at a rate of 97.89%.

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