Hungarian Tax Revenue Increase Outpaces GDP Growth
- 8 Jan 2018 8:02 AM
Tax revenue in Hungary rose almost 5 percent, by 609 billion forints (EUR 2bn), last year, even exceeding the pace of GDP growth, the head of the National Tax and Customs Office (NAV – Nemzeti Adó- és Vámhivatal) told MTI.
The revenue rose even as the tax burden on families and businesses was cut by 860 billion forints, said András Tallai.
He attributed the increase in revenue to improved tax morale, explaining that it no longer pays to evade taxes in Hungary because the country has the lowest corporate tax rate and the second-lowest personal income tax rate in the European Union.
A change in approach at NAV, such as becoming more client-centered and providing assistance to taxpayers, also supported the improved tax morale, he added.
Total tax revenue in Hungary came to 13,402 billion forints last year.
Republished with permission of Hungary Matters, MTI’s daily newsletter.
LATEST NEWS IN business