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Tax measures will make companies more competitive

Tax changes that will leave Hungarian companies with an extra HUF 400 billion in 2010 will make them more competitive when the market turns around, Prime Minister Gordon Bajnai said while visiting a company in Ajka (NE Hungary) on Wednesday.

“It appears as if there is already pick-up, but rather stabilization can be felt on foreign markets,” Bajnai said, adding that the large number of Hungarian companies that rely on exports could stabilize their positions.

The payroll tax on all wages will be reduced by five percentage points from 2010. Even as other countries are raising taxes on labor, Hungary is “concentrating on returning the honor to work.” (MTI-ECONEWS)