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No expected tax, but tougher tax revisions, says Kóka

Government does not plan either to levy the expected minimum tax or to replace it with any other type of tax. It will however fortify revision and tax collection, announced János Kóka Economy Minister.

Apeh will be authorized to collect more data with companies whose pre-tax profit is lower than the 2% of the adjusted sales revenue, even if a company pays tax after the 2%. The money collected in this way will still be less than the Ft 60 billion calculated with expected tax, admitted Kóka. The gap will be filled from general revenues in H1 and overperformance of other taxes in H2. Kóka trusts the government will approve the proposal at its Wednesday session. The new proposal is welcome, but it is not clear as yet how Apeh will be able to detect fraudulently loss-making companies, PricewaterhouseCoopers associate Gabriella Erdős told daily Napi Gazdaság, fearing that collecting more data will result in extra administration. (NG)