Personal income tax revenue higher than target but down yr/yr
In a budget report on Monday, the National Economy Ministry said that net revenue from the personal income tax, at HUF 1,382.8bn last year, exceeded the respective annual target by 1.5%, but dropped HUF 385.1bn or by 21.8% from 2010.
HUF 156bn of the decline resulted from the family allowances deductible from the tax base, which were granted to an averege 810,082 individuals in the course of 2011, the ministry said. It expected a further 100,000 people to claim the allowance in their annual tax returns by the May 20 deadline.
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