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Prime minister says tax cuts to save businesses HUF 410-430 billion beginning in 2010

Prime Minister Gordon Bajnai said on Wednesday that amendments to Hungary's tax system will reduce the tax burden on businesses by HUF 410-430 billion (€ 1.46 billion-1.53 billion) beginning in 2010.

Bajnai said that employer's and employee's tax wedge on the average net wage will fall to 45.7% from the current 54%, thus reducing Hungary's employment taxes from the second highest in Europe to average for countries in the continent. (MTI-Econews)