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Gov't expects revenue of HUF 180 billion from shrinking of shadow economy in 2013

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The government expects to generate HUF 180 billion in revenue from measures aimed at shrinking Hungary's shadow economy in 2013, National Economy Ministry deputy state secretary Adam Balog told the daily Magyar Nemzet on Monday. Balog told the newspaper that the ministry expects to gain HUF 95 billion from the electronic oversight of cash registers, HUF 15 billion from the revise VAT in the grain sector and HUF 10 billion from the new regulations regarding the hog and feed sectors and a combined HUF 60 billion from various measures such as the restriction of cash payments, the new type of business taxes or the 200% excise-tax fine.

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