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Finance Minister: Government to expand VAT cut on homes until 2026

The government is expanding VAT cuts until the end of 2026, the finance minister said on Facebook on Saturday.

VAT will remain 5 percent on newly built apartments smaller than 150sqm and houses smaller than 300sqm, in a move that will support families and the construction sector, Mihaly Varga said.

Homes purchased after 2026 will be eligible for the same discount up until 2030 if their building permits had been obtained by 2026, he added. The step is expected to leave 200 billion forints (EUR 513.3m) with taxpayers, he said.

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