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Hungary tax revenue edges down to 37% of GDP

Banking

Tax revenue of the Hungarian state was the equivalent of 37% of GDP in 2011, down from 37.7% in the previous year, data compiled by the European Commission and published on Monday show. Hungary ranked twelfth in the European Union in terms of the overall tax burden compared to the size of the economy. Indirect taxes accounted for 45.8% of all tax revenue in Hungary, according to the EC's data. Taxes accounted for 26.8% of consumption and for 38.4% of labor costs.

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