Starting Friday, the family tax refund will arrive in the bank account for those who have requested delivery by post, Hungarian Finance Minister Mihály Varga announced on his Facebook page.
Varga added that the amount disbursed by the transfer exceeds HUF 561 billion (€1.58 billion), which will be received by all families no later than Monday, i.e before the legal deadline. Postal deliveries have already taken place with 160,000 families receiving nearly 50 billion forints (€141 million).
The finance minister emphasized that with the family tax refund, HUF 610 billion (€1.72 billion) will be returned to parents raising children in February.
“The performance of the Hungarian economy provides an opportunity to strengthen families: last year was the highest economic growth in the last 30 years, and growth of well over 5 percent is expected this year as well,” Varga said.
It is important, according to the head of the ministry, that the right to a tax refund cannot be lost, it can be used in the personal income tax (PIT) return for those who failed to submit their paperwork by Dec. 31.
Last year, the Hungarian government decided to offer an income tax refund to the amount of average wages to all families with young children.