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Higher threshold for preferential corporate tax to cut budget revenue HUF 70 bln

A government plan to raise the profit threshold for a preferential 10% corporate tax rate from HUF 50 million to HUF 500 million will cost the budget about HUF 70 billion, but a decision to introduce a flat-rate personal income tax is expected to significantly raise the number of people who pay taxes, state secretary at the National Economy Ministry András Kármán said at a press conference on Thursday.

The general government deficit target is achievable, Kármán said. The government has not yet addressed the questions of the simplified business tax (eva) and the simplified payroll tax (ekho), he added. (MTI-Econews)