Businesses propose whitening economy instead of tax rises

Banking

The Hungarian European Business Council (HEBC) said in a report published Thursday that the government should take steps forcing businesses in the black and grey economies to pay their fair share of taxes, rather than raising taxes for all businesses.

The HEBC also proposed a simpler and more efficient method of tax collection, noting that the present tax system does little to provide companies with a stable and predictable business environment, and it urged the government to cut costs. HEBC conceded the necessity of tax increases recently introduced by the government, but said they hoped the rises would be only temporary.
Minister of Economy and Transport János Kóka, speaking at the presentation of the report, said Hungarian politicians are either for or against developments and reforms, but a consensus on the matter will be required to increase the country's competitiveness. He asked HEBC members to help achieve this consensus. Kóka suggested a single-rate tax system could be introduced from 2009.

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