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Finance Minister promises simpler taxes for businesses

The government is about to simplify the tax reporting system for corporations in 2008, Finance Minister János Veres said at the conference of the Hungarian Banking Association yesterday.

The actual proposal will be completed by the end of June; but it is sure that the enterprises will have to fill in less and shorter tax returns next year, Veres added. If the state budget balance will turn out according to the convergence program, in three years the state’s funding demand will be by Ft 1,100 billion lower than this year. The funds available for corporations will be increased with this sum and with further Ft 1,500–1,600 billion ($8-8.6 billion) EU subsidies as well. This way, the rate of economic growth will increase above 4% by 2009. The inflation rate has already topped, it is expected to start decreasing slowly, Veres forecasted. (Gazdasági Rádió)