Tax reforms on the agenda
The government plans several measures to enhance competitiveness of the Hungarian economy. A new subsidised credit scheme is to be launched in the magnitude of Ft 300 billion. New profit tax breaks are to be introduced and there are some draft measures to diminish competition drawbacks of tax-paying companies against those trying to avoid paying their taxes.
There are three options to reform the much-criticised system of local business taxes, designated finance minister János Veres told a parliament committee yesterday. The first option is that this tax could be fully deducted from the profit tax base, a second one is that it is gradually eliminated and local governments get some other forms of revenue, and a third one is to create another tax base for this tax. (VG)
