Hungary eyes 9% flat corporate tax

Banking

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Corporate tax in Hungary will be lowered to a flat 9% as of next year, Hungary’s Prime Minister Viktor Orbán announced today at the Regional Digital Summit conference in Budapest, according to Hungarian news agency MTI.

The prime minister was reported saying that the lowered rate would be applied to big companies, as well as to small and medium-sized enterprises (SMEs), the news agency added. 

Currently, the corporate tax rate is 10% on a tax base up to HUF 500 million, and 19% over that, MTI noted.

According to MTI, Orbán said the government made its decision on the corporate tax rate at a meeting on Wednesday, based on a proposal by Minister for National Economy Mihály Varga and decisions taken earlier on payroll taxes. 

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