The Hungarian Parliament reportedly approved legislation for the 2020 budget on 12 July 2019. Tax-related measures of the budget include: a reduction in the rate of social contribution tax from 19.5% to 17.5% with effect from July 2019; a reduction in the rate of small enterprise tax (KIVA) from 13% to 12%; the abolition of the simplified entrepreneurial tax (EVA); the abolition of advance corporation tax payments for enterprises that realize an annual turnover in excess of HUF 100 million (the year-end top-up) so that such companies may settle their tax due with their annual tax return, instead of in...