In issue No. 81/2011 of the official journal Magyar Közlöny , the Act No. XCIV/2011 on changes of various acts concerning economics passed by the Parliament was published. This "mixed" act modifies, among others, also taxation rules of in-kind benefits. Preferential taxation of recreation checks as a type of in-kind benefits will be abolished as of 1st October 2011. Tax liability for recreation checks provided until 30th September 2011 shall be computed according to the present rules, however, for those provided after the date this Act comes into effect, computation shall occur in accordance with the main rule, i.e. for employment as wage or salary, and in other relationships as other income. Usability of recreation checks provided earlier remains unaffected; they can be used in line with their original validity.
Recreation checks will be replaced by the Széchenyi Recreation Card introduced this year.
