Parliament passes 2012 tax laws

Elections

Hungary’s parliament passed next years’ tax laws by a vote of 232:78 late on Monday.

The votes against the law included two votes from MPS of the governing party Fidesz. The opposition party LMP walked out of the vote after the governing parties defeated an opposition motion to delay the final vote because of the high number of last-minute amendments tabled on Monday.

The new legislation replaces social security contributions paid by employers with a 27% "social co-payment" tax starting next year.

The simplified business tax (EVA) will rise from 30% to 37%.

One novelty among the tax changes is a 30-% "accident tax" to be paid by insurance companies from the mandatory liability insurance paid by the owners of vehicles.

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