Gov't could cut payroll tax for unskilled workers

Banking

The government could reduce the payroll tax rate for unskilled workers from 18% to 27% from 2013, business daily Napi Gazdaság said on Thursday, citing an interview with deputy state secretary of the National Economy Ministry Ádám Balog published in the latest issue of the tax journal Adó Szaklap.

"We are working on the 2013 central budget, including simplifying the taxation of the SME sector," Balog said in the interview. "I expect the [Simplified Business Tax] could also be restructured as part of the taxation of the entire SME sector. Some kind of fixed cost will presumably be part of the new system, but I believe the VAT should be handled separately," he added.

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