New tax to increase budget revenues: the carbon dioxide (CO2) quota tax

Government Decree No. 320/2023 (VII. 17.), which establishes a tax liability for the largest carbon dioxide emitters in Hungary for the 2023 tax year, was published on July 17, 2013. While the new tax will affect only a small number of economic operators, all the greater is the burden placed on these. In addition to the tax, the taxpayers concerned will also have to pay an additional transaction fee to the climate change authority if they trade their carbon credits.