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Hungary tax revenue-to-GDP ratio reaches threshold

Banking

Last year, tax revenue as a percentage of GDP in Hungary edged up one percentage point to 38%, which marks a threshold that cannot be exceeded, deputy state secretary for tax affairs Ádám Balog said in an interview published in the fresh issue of professional journal Adó Szaklap.

Balog said the ratio was high in regional comparison as well as compared to the European Union as a whole. "More taxes cannot be collected," he said.

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