Hungary Advances to 7th in International Tax Competitiveness Ranking
- 23 Oct 2024 1:53 PM
Hungary has advanced to 7th from 11th place in the latest annual ranking by the Tax Foundation of OECD countries' tax competitiveness, Finance Minister Mihaly Varga said in a post on social media.
Hungary was third in the cross-border tax rules ranking of the index, fourth in the corporate tax ranking and in fifth place in the individual taxes ranking, pulling ahead of countries such as Sweden, Germany, Canada, the United States and Korea, Varga said.
"The Hungarian tax system is one of the most competitive in the world, and we've got the paper to show it," he added.
Varga said Hungary's tax policy was based on tax cuts, support for families and businesses, streamlining and cracking down on tax evasion. He added that tax cuts would continue with a doubling of the tax preference for families with children.
International Tax Competitiveness Index 2024
Source:
MTI - The Hungarian News Agency, founded in 1881.
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