Hungary jumps ahead in World Bank Paying Taxes ranking
Hungary moved forward to 56th place from 86th in an annual global ranking gauging ease of paying taxes compiled by consultancy PwC and the World Bank Group.
The ranking is based on four indicators:
Total Tax and Contribution Rate (TTCR), time to comply, number of payments and post-filing index.
Hungary’s TTCR stood at 37.9 in the latest ranking, under the 46.1 rate for the Czech Republic, the 40.8 rate for Poland and the 49.7 rate for the Slovak Republic.
State secretary for tax affairs Norbert Izer attributed Hungary’s big improvement in the overall ranking to the government’s tax reduction policy, measures to ease the administrative burden of paying taxes and more efficient oversight by the tax authority.
Read alsoTax authority uncovers crime ring charged with EUR 12m VAT fraud
Source: mti
If you would like to support the work of the Daily News Hungary staff and independent journalism,
please make a donation here
please make a donation here
Hot news
China honors the legacies of Hungarian architect László Hudec and poet Sándor Petőfi
Unforeseen: EU starts investigation against Hungarian Wizz Air!
New surprising study reveals how stressful driving is in Budapest compared to other cities
Devastating news: life expectancy at birth in Hungary low, Romania may soon precede Hungary
Unexpected turn: Biggest Aldi store will open in Budapest
Hungarian taxi companies in trouble? Uber reaches another milestone to relaunch service in Budapest