Olympic supporters offered tax break

Legislation has been approved which will see a welcome tax break for those actively supporting Hungary’s bid to host the 2024 Olympic Games. The legislation states that if companies are providing financial support to the bid, their tax will be capped at HUF 19 billion over the two year period of 2016-17 which is a similar deal already in place for companies that support team sports.

117 votes were cast in the ‘approval’ category with just 57 ‘against’ for the bill that was submitted by Mihaly Varga, National Economy Minister. Budapest is the city that submitted the bid before the deadline of February 17th which meant that a referendum, due to be held after the date, on whether the country wanted the games or not was blocked.

Image provided by:© Asafta | Dreamstime.com - Olympia Park, Budapest, Hungary Photo