Hungary A Land Of Many Taxes
- 9 Mar 2016 8:00 AM
Hungary has 60 forms of tax, most of which yield less than 1% of total tax revenue, the Jalsovszky law firm has found. VAT contributes more than 25% of budget revenue, personal income tax brings in 13.5% and the excise tax 7.8%, but most of the existing tax types contribute less than 1%.
The company tax generates 3% of the total and the financial transaction tax 2%.
In comparison, the US has 97 forms of tax and Germany has 59, but these countries are much bigger and have many regional units, lawyer Tamás Fehér argued.
Source: Hungary Around the Clock
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