Varga to scrutinise KATA tax form, weigh chamber proposals

Banking

Finance Minister Mihály Varga on Thursday said he would review the Itemised Tax for Small Businesses (KATA) and weigh recommendations on the tax form made by the Hungarian Chamber of Commerce and Industry (MKIK), state news wire MTI reports.

Minister of Finance Mihály Varga

Speaking after a meeting of MKIKʼs leaders, Varga said the chamber had made proposals that aim to eliminate elements of KATA that hurt competitiveness as well as to prevent abuses in the area of employment using the tax form.

Businesses that opt for KATA pay a flat monthly HUF 50,000 instead of corporate or payroll tax. The annual revenue threshold for KATA companies is HUF 12 million. 

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