Minimum wages taxed again


The same coalition that had abolished tax on minimum wages more than four years ago is to reintroduce the levy from next year on. Officials of the Finance Ministry have stated that the dual system of tax deductions will stay level while the minimum wage itself will be raised, as agreed at The National Council for the Reconciliation of Interests (OÉT). The deductions have so far in effect zeroed personal income tax levied on the minimum wage, but recent measures resulted in a 0.7% tax for 2007 (this means Ft 450 off the Ft 65.500 minimum wage), and a further rise to 1.5% by 2008 (it is Ft 1080 off 69.000). Analysts and tax experts have long deemed the abolition of the tax-free minimum wage necessary, as the present framework can be partly blamed for 44% of income returns declared around or below the currently set minimum wage. (Világgazdaság)


MNB Int'l Reserves Rise EUR 633 mln in November MNB

MNB Int'l Reserves Rise EUR 633 mln in November

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Number of Job Adverts up Minimally HR

Number of Job Adverts up Minimally

Tourism Nights Down 0.2% y.o.y. in October Tourism

Tourism Nights Down 0.2% y.o.y. in October


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.