ADVERTISEMENT

Govt nixes idea of raising local business tax

Banking

The government does not support an increase in businesses’ local tax burden, János Lázár, head of the parliamentary group of governing Fidesz, said at a press conference after a meeting of MPs and the government on Monday.

Answering a question about local councils’ freedom to levy taxes, Lázár said Prime Minister Viktor Orbán had said at the meeting that the government could not support any increase in the local tax burden for businesses because it would hurt the country’s competitiveness. He added that the cabinet was open to reviewing the possibility of a restructuring of local taxes for private individuals, he added.

The parliamentary group will draft a proposal on the matter by Wednesday, considering in the process taxes such as one on farm land, he said.

Lázár said Orbán had said the budget debate had to be continued in a continuously changing economic environment. The prime minister said Hungary’s path of economic growth was determined in no small part by the economic outlooks for Germany and France, he added.

Orbán told the MPs they had little room for maneuver with regard to modifications to the tax laws and budget, reiterating the government’s commitment to reducing the general government deficit as well as state debt.

ADVERTISEMENT

Purchasing Managers' Index rises Analysis

Purchasing Managers' Index rises

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.