Veres insists new taxes are constitutional

Issues

The proposals approved by the Parliament were all examined by the Ministry of Justice, Veres said. The Hungarian Chamber of Commerce and Industry (MKIK) announced on Tuesday it would contest the tax changes -- notably, one which would require even unprofitable companies to pay corporate profit tax -- with the Constitutional Court, while the Hungarian Banking Association reportedly plans to deposit a similar complaint concerning the changes affecting the bank sector. Veres said yesterday that it was hard to believed that 40% of Hungary's micro and small businesses have had losses throughout the past five years, as they reported, adding that audits would be started to confirm this. (Econews, Vg, Nb, NG)

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