Hungarians below the age of 25 will not have to pay personal income tax from January 1, 2022, Prime Minister Viktor Orbán said in a radio interview on Friday morning.
Orbán told public broadcaster Kossuth Radio that the measure would cost the budget 130-150 billion forints (EUR 363-420m).
He said that following the phased reintroduction of the 13-month pension, it was important that young people should be given a serious opportunity, adding that the full tax break would apply to up to the threshold of an average salary.
For that matter, Hungary offers the lowest personal income and single corporate tax in Europe.
Last week, Foreign Minister Péter Szijjárto noted that American investment magazine Site Selection has selected Hungary as one of the 10 most popular investment destinations in the world for the third time in a row.
Source: MTI
3 comments
That’s one way to try and buy the youth vote in a year that will have a General Election.
Mind Boggling Decision – the principal ingredient of a Governments bottom line income arises from its obtainment of – Tax – it receives payable by the work base – those Employed – of its Citizens.
Interesting – questions will grow, what is Planed to replace this decision effective from January 2022 – the attainment lost to Government from abolishing tax income being paid by those under the age of 25 ???
You give with one hand – but what do you take with the other ///
The Hungarian Government has – as usual – got its priorities right.
PREVENT illegal migrants from entering Hungary and save an absolute fortune on having to sustain many thousand totally useless Muslims who are good at nothing apart from destroying, stealing, raping, etc..
RE-CHANNEL those funds into abolishing tax for under-25 HUNGARIANS who will then :
1.) have the incentive to REMAIN in Hungary where the cost of living is very low compared to most other European countries ;
2.) be able to SAVE money for real-estate and other purchases in Hungary, especially once married ;
3.) increase the population base of HUNGARIANS instead of having to rely – like many Western European nations – on parasitic, uneducated, riotous, non-respectful so-called ‘migrants’ who should ALL be sent back (in chains) from where they first came (Syria ????).
Clever idea, Mr. Orban !