July 1, 2009
The new bill will cut personal income taxes and social contributions paid by the employers.
The Hungarian Parliament endorsed its new tax reform on June 29. The new bill will cut personal income taxes and social contributions paid by the employers to the government and will provide for a "wealth tax" on real estate and luxury items next year. The structural fiscal reforms include a shift in taxation from labor to consumption taxes by raising excise duties and by reducing the employment tax to encourage employers to save and create jobs.
For further details follow the link below:
http://www.reuters.com/article/companyNewsAndPR/idUSLT24516720090629?pageNumber=1&virtualBrandChannel=0
