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Varga: Gov’t targets single-digit corporate tax by 2018

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Hungary’s Economy Minister Mihály Varga said yesterday that the Hungarian government is making efforts to bring the corporate-tax down to a single-digit figure as of 2018. He said that this is an important goal of the government's tax policy, adding that he expects the rate to be close to 10%.

The corporate tax rate is currently 10% for SMEs and 19% for big businesses. The budget surplus for three consecutive months from September amounted to an economic turnaround, he said, adding that they expect a surplus for December as well.

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