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Revenue from simplified business tax rises to HUF 166.5 billion

Budget revenue from the simplified business tax (EVA) came to HUF 166.5 billion in 2008, up from HUF 152.8 billion in 2007, budget data published by the Finance Ministry shows.

Small companies that opt for EVA pay a percent of their gross revenue instead of their profit and are not allowed any deductions.

The tax generated HUF 143.1 billion in revenue in 2006, HUF 91.4 billion in 2005, HUF 67 billion in 2004, and HUF 31 billion in 2003, the year it was introduced. During the period, the EVA rate was raised twice, from 15% to 25%. (MTI – Econews)