Tax office restructuring expected to lift corporate tax revenue

Banking

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Once the restructuring of Hungary’s National Tax and Customs Authority is complete – it currently stands at 60% completion – the authority will play an “important role” in the planned increase of corporate tax revenue in 2017, Hungary’s National Economy Minister Mihály Varga said late yesterday.

During an interview with commercial station Info Rádió, the minister said that the authority’s organizational structure has been reduced from three to two elements, central and county, and headcount will be brought to an “optimal” level in the next six months, Hungarian news agency MTI reported. 

The minister stressed that the Hungarian government expects a crackdown on tax evasion to raise next yearʼs corporate tax revenue from HUF 400 billion to HUF 770 bln, and it also predicts economic growth and the introduction of the growth tax credit, MTI reported.

Varga added that the Hungarian government is not planning to introduce new taxes in the future but to collect those already due.

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