Fidesz MP submits bill scrapping Simplified Business Tax

Banking

An MP of governing Fidesz submitted a bill to Parliament on Wednesday that would eliminate the Simplified Business Tax (eva).

At present, businesses that opt for the Simplified Business Tax instead of the corporate profit tax pay 30% of gross revenue to the state. Only companies with gross revenue under HUF 25m a year may choose to pay the tax.

The tax generated revenue of HUF 86.5bn in January-September, the latest general government data from the National Economy Ministry show.

The tax is expected to bring in HUF 180.1bn for the full year, according to a downward revised target approved by Parliament, practically level with the HUF 181.9bn in 2010.

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