• Coronavirus in Hungary
  • Budapest
  • Hungary border control
  • HelloMagyar
EnglishFrenchGermanSpanish
EnglishFrenchGermanSpanish
Economy ministry mulls payroll tax reductionEconomy ministry mulls payroll tax reductionEconomy ministry mulls payroll tax reductionEconomy ministry mulls payroll tax reduction
  • Politics
  • Business
  • Society
  • Sport
  • Culture
  • Special Hungary
  • News To Go
  • World
  • Contact Us
  • About us
  • About us
  • Contact Us
  • Privacy Policy
✕
Breaking News
Support us
Daily News Daily News · 15/08/2016
· Business

Economy ministry mulls payroll tax reduction

economy tax/VAT
tax

Budapest, August 15 (MTI) – Hungary’s economy ministry is weighing a possible reduction in payroll taxes, the head of the portfolio said in Monday’s issue of daily Magyar Idők.

“Payroll taxes [in Hungary] are higher than the European Union average, which could put the country at a competitive disadvantage,” Mihály Varga told the paper.

“On this basis, it appears that deliberation on a reduction in payroll taxes is inevitable,” he added.

Varga conceded that the government has “less room to manoeuvre” when it comes to payroll taxes as the revenue they generate must cover healthcare and pension expenditures.

Button

“We’ve balanced the healthcare and pension funds only after years of hard work….It would be a mistake to endanger this balance,” he added.

National business association VOSZ said later on Monday that they would support a proposal to lower payroll taxes.

Source: MTI/Magyar Idők

economy tax/VAT
Share
Daily News
Daily News

Leave a Reply

Your email address will not be published. Required fields are marked *

SUPPORT US

Subscribe to our newsletter

Sign up to receive daily updates, news & stories about Hungary!

Select your location below or enter your country so we can deliver our morning newsletters to you in time.


Thank you!

You have successfully joined our subscriber list.


.

Latest news
  • Rent prices started to fall after two years of rises
  • Hungary, Romania will act together for ethnic minorities in Ukraine
  • Foreign minister: Hungary supports ‘Israel’s right for self-defence’
  • What happened today in Hungary? – 28 January, 2023
  • Budapest one of the top European wellness hotspots!
  • Fuel will be Europe’s most expensive in Hungary?
  • RECIPE: traditional Hungarian kenyérlángos
  • Many Hungarians from Transcarpathia have died in the war, says minister

About us

Contact us

Copyright rules

© 2023 DailyNewsHungary. All rights reserved! | Server and development by Svigelj Levente E.V