Revenue from simplified business tax continues to rise

Banking

Small companies and self-employed individuals who have opted to pay the Simplified Business Tax (EVA), rather than the regular corporate tax, paid Ft 24 billion in the tax in July, compared to Ft 21.6 billion in the same month a year earlier, the Finance Ministry said on Friday.

EVA payments in January-July came to Ft 78.3 billion, compared to Ft 66.2 billion in the same period a year earlier. The Finance Ministry targets total revenue of Ft 107 billion from the tax in 2006. In 2005, the tax brought in Ft 91.4 billion, in 2004 it generated Ft 67 billion and in 2003, the year it was introduced, the state took in Ft 31 billion of revenue from EVA.
Companies and self-employed individuals who opt for EVA pay 15% of their gross revenue, excluding any deductions, in taxes. They also have to pay the local business tax. From September 1, the EVA rate will rise to 25%.

ADVERTISEMENT

Business confidence improves as consumer sentiment worsens Analysis

Business confidence improves as consumer sentiment worsens

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

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.