Budapest, April 29 (MTI) – The restructured tax office (NAV) operating under the Economy Ministry will play a key role in boosting corporate tax revenue next year, Mihály Varga, the economy minister, told commercial broadcaster InfoRadio.

The restructuring of the tax office is two-thirds complete, he said late on Thursday. Its structure has changed from three to two pillars — central and county — and headcount will soon be brought in line accordingly, he added.

The government expects a crackdown on tax evasion among other measures to raise next year’s corporate tax revenue from 400 billion forints (EUR 1.3bn) to 770 billion, he said. “Instead of introducing new taxes we want to collect existing ones.”

Hungary introduced the growth tax credit in 2015, allowing companies with fast-growing earnings to defer corporate tax payments on profit increases over a period of two years.

Asked about the big increase planned in corporate tax revenue for next year, government office chief Janos Lazar said at a weekly press briefing that “big foreign-owned companies will pay their taxes, just as in 2015-2016”.

Photo: MTI

Source: http://mtva.hu/hu/hungary-matters

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