The European Commission has announced its approval on 1 February 2021 of a Hungarian scheme to support SMEs affected by the COVID-19 outbreak, including a reduction in the local business tax rate and reduced advance payments. --- State aid: Commission approves €586 million Hungarian scheme to support small and medium-sized enterprises affected by coronavirus outbreak The European Commission has approved an approximately €586 million (HUF 214 billion) Hungarian scheme to support small and medium-sized enterprises ('SMEs') affected by the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework. Under the scheme, the public support will take the...