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Hungary: Gov’t aims to cut corporate administrative costs 25% by 2012

  The government aims to reduce the administrative costs of companies 25% by 2012, in line with EU plans, the National Development and Economy Ministry told MTI on Monday.

 

By mid-2009, the government wants to introduce 17 short-term measures within the framework of a program to simplify and speed up administrative procedures. Already, it has taken steps to reduce the time it takes to establish a company to one hour and cut the number of spheres of business activity that require a permit to 66 from 165.

A government survey started in March revealed that Hungarian companies see taxes as their biggest administrative burden, followed by public procurements and administrative costs related to cohesion policy. (MTI-Eco)