Monday, Jan 4, 2016. 13:17

Minister: NAV reorganization key to competitiveness

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Hungary’s competitiveness would be in danger if the National Customs and Tax Authority (NAV) did not restructure its operations to assist in the development of the Hungarian economy, National Economy Minister Mihály Varga said today in Budapest, according to Hungarian news agency MTI.

Speaking at the appointment of the new leadership of NAV today, the minister said that the restructured authority will be able to flexibly adhere to changes within the nationʼs economy. Varga noted that the Hungarian tax system has reached a turning point, and a tax authority is now being established which will aid the development of the Hungarian economy, MTI reported.

The minister urged the authority to support businesses and individuals as partners, to assist them in paying taxes, MTI reported. Varga said that with NAV coming under the aegis of Hungary’s National Economy Ministry (NGM), a client-friendly taxation system will be established with faster administration for individuals and businesses.

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