Want to avoid paying Income Tax? Have 4 or more babies: A Hungary plan to reverse population decline, curb immigration

  • Hungary has announced a slew of measures that is aimed at promoting marriages and families, while curbing the rate of immigration. ‘Have more babies’ and save Income Tax!

Livemint
Updated22 Jun 2024, 09:56 AM IST
Hungary, similar to numerous other European countries, is facing a challenge due to a declining birth rate.
Hungary, similar to numerous other European countries, is facing a challenge due to a declining birth rate.(HT_PRINT)

Paying income taxes can often strain the finances of the average person but what if the government introduces measures that could exempt you from taxes for life? Of course it wouldn't come for free. Hungary Prime Minister Viktor Orban on Friday announced a slew of measures that is aimed at promoting marriages and families, and curbing the rate of immigration. “Have more babies”. You read that right.

Hungary, similar to numerous other European countries, is facing a challenge due to a declining birth rate. To reverse population decline, Hungary announced a few measures to increase birth rate. Viktor Orban said, “There are fewer and fewer children born in Europe. For the West, the answer [to that challenge] is immigration. They want as many migrants to enter as there are missing kids, so that the numbers will add up. We Hungarians have a different way of thinking.”

The measures announced by the Hungary government exempts women raising at least four children from paying personal income tax for their lifetime. It also announced subsidy for larger families to purchase bigger cars. The government also announced that it will open 21,000 creche places in line with the action plan to reverse population. Also Read | How the pandemic pushed more kids into child labour

Viktor Orban said the country need more Hungarian children. “But we do not need numbers. We need Hungarian children,” he said.

Criticising the “mixed population countries”, Viktor Orban said, “The people of Europe have come to a historic crossroads.” He said the Christian countries will soon be countries where Christians are in minority and there is “no return ticket.” Also Read | Can immigration concerns turn out to be biggest challenge for Biden and Sunak ahead of US, UK elections?

A same pitch was also made a few years ago and the scheme to promote marriage and childbirth with subsidised loans had also helped produce a boom in weddings. In 2019, a new scheme offered couples that marry before the bride's 41st birthday subsidised loans of up to 10 million forints ($33,000). A third of the loan will be forgiven if they go on to have two children, and the entire debt wiped out if they have three, Reuters reported.

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First Published:22 Jun 2024, 09:56 AM IST
HomeNewsWorldWant to avoid paying Income Tax? Have 4 or more babies: A Hungary plan to reverse population decline, curb immigration

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