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EU sanctions simplified business tax

Nearly 100,000 Hungarian SME?s will continue to enjoy the benefits of the simplified business tax (EVA) system, which has been approved by the EU committee of member states? finance ministry delegates, the European Commission said. The committee found that the simplified taxation system complies with EU regulations and does not reduce the reduce the amount of European tax revenues, as Hungary?s VAT payments to the EU coffers have not decreased since EVA was introduced. The delegates agreed that the simplified tax serves some of the key priorities of the EU?s tax policy, including a more straightforward tax system and the restriction of tax evasion. The decision was also motivated by the fact that EVA is advantageous for SME?s, in line with the EU policy of supporting the small business sector.