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Collected taxes increased in 2017

Revenues handled by Hungaryʼs National Tax and Customs Administration (NAV) amounted to HUF 13.401 trillion last year, a 4.8% increase year-on-year. In addition, NAV was able to recover nearly HUF 262 billion of unpaid taxes and receivables.

Revenues collected last year showed a HUF 608.6 bln increase compared to 2016, business news daily Világgazdaság reported. Revenues from personal income tax were HUF 213 bln higher than a year before, amounting to HUF 2.024 tln, attributable to wage increases and the raising of the minimum wage.

A much higher increase in revenues was generated by VAT, with a growth of 10.6%, amounting to HUF 6.145 tln. Corporate taxes dropped by HUF 58.2 bln to HUF 624.9 bln, due to lower tax rates introduced last year.

NAV launched almost 994,000 enforcement proceedings for more than HUF 757 bln in unpaid taxes and receivables last year. Of this amount, NAV was able to recover nearly HUF 262 bln. Roughly half of that amount was generated from placing liens on assets.