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Gov’t Extends Support for Tourism, Catering Companies until end-January

MTI-Hungary Today 2020.12.09.

The government will continue to cover half of wage costs and waive payroll taxes at companies in the hard-hit tourism and catering sectors until the end of January, Finance Minister Mihály Varga said on Facebook on Tuesday.

The measure will preserve 140,000 jobs in the restaurant, commercial accommodations, arts, entertainment and recreation businesses, Varga said.

Those sectors could initiate an extension of the support beyond January, too, he added.

Hospitality Industry in Trouble: Will the Government's Financial Aid be Enough?
Hospitality Industry in Trouble: Will the Government's Financial Aid be Enough?

The new coronavirus restrictions are expected to once again impact the hospitality industry negatively. The government has therefore offered tax cuts and financial aid to firms; for the restaurant and related industries 50% of gross wages, for hotels, 80% of missed revenue from bookings. Will this keep the sector afloat? Feast on this In restaurant […]Continue reading

The government rolled out the targeted wage support and payroll tax exemptions early in November, after a month-long evening curfew was introduced to contain the spread of the coronavirus. The curfew has since been extended until January 11.

The support is conditional on maintaining headcount.

Featured photo illustration by Attila Balázs/MTI