Government eyes oversight of tax consultants, accountants

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The Hungarian government is planning to establish an oversight authority for tax consultants, accountants and auditors as of this year, Hungarian daily Magyar Idők reported today.

According to the daily, the chief role of the authority would be to prevent VAT fraud and fraud at brokerages.

The daily added that the new body would be responsible for establishing rules for accreditation and issuing operating permits, and also, uncovering for shortcomings. The government also expects the new authority to end “unrealistic price competition”, Magyar Idők said.

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