184 result(s) for tax reduction
Hungary May Turn To EU For Lower VAT On Internet
- 5 Mar 2016 8:00 AM
- tech
Hungary may turn to Brussels asking reduction of the value added tax on internet services, the government commissioner in charge of internet programmes said on Friday. Tamás Deutsch said in the online edition of daily Magyar Idők that Hungary’s government decided to cut the VAT on internet services from 27 percent to 18 percent as of January, 2017.
Hungary’s Employer Group Chief: High Tax Rates Hamper Proper Wage Reform
- 31 Dec 2015 8:00 AM
- business
Employment and income tax rates need to be reduced because the current tax system is hampering a proper wage reform, the chief secretary of the National Association of Employers and Entrepreneurs (VOSZ) said. Ferenc Dávid said a gross wage of 100,000 forints (EUR 320) costs the employer approximately 128,500 forints factoring in social contributions while the employee’s net wage ends up being ...
Hungarian Govt Proposes Reduced Banking Tax From Jan 1
- 12 Dec 2015 8:00 AM
- business
The government has proposed lowering the banking tax as of January 2016 from 0.31% to 0.24%, the economy ministry said. The reduction was proposed based on informal signals from the European Commission and an agreement with the European Bank for Reconstruction and Development (EBRD), the ministry said. The tax’s lower bracket would remain the same, 0.15% up to 50 billion forints.
Hungarian Parlt Raises Tax On Fruit Brandy Pálinka
- 18 Nov 2015 8:00 AM
- business
Parliament raised the tax on distillation of Hungarian pálinka fruit brandy for personal consumption by 700 forints (EUR 2.24) per litre to comply with a ruling by the European Court. From January it will be obligatory to purchase “distillation stamps” for every litre of pálinka. Individuals may purchase between 5 and 86 of the 700 forint stamps.
Hungarian Parlt Passes Taxpayer Classification, Red Tape Reduction Laws
- 18 Nov 2015 8:00 AM
- business
Lawmakers approved bills on cutting red tape and classifying taxpayers based on tax compliance risk. The bill put forward by government office chief János Lázár aims to simplify and speed up public administration, scale back the number of steps needed to obtain permits and reduce completion deadlines. Activities no longer requiring permits will include the sale of precious metal jewellery, ...
National Bank Of Hungary May Keep Base Rate Unchanged Until 2018, 2019
- 28 Oct 2015 8:00 AM
- business
The National Bank of Hungary (NBH) may keep its base rate at a record-low 1.35% base rate until 2018 or even 2019, beyond its horizon for monetary policy, deputy governor Márton Nagy told Reuters. Nagy also said that the NBH will announce a set of incentives to boost business lending next Tuesday, and it expects to close a deal to acquire a majority stake in the Budapest Stock Exchange within ...
Contract Distillation Of Pálinka In Hungary Drops By 80%
- 15 Oct 2015 5:00 AM
- food & drink
Distilleries in Hungary have produced 2 million litres of fruit brandy pálinka this year, less than 20% of the amount distilled in 2014; the drastic drop largely resulted from the elimination of tax exemption for home distillation of spirits from January 2015, daily Magyar Idők said. Legislation in force since the autumn of 2010 allowed Hungarian households to distil for personal consumption an ...
Foreigners Prevented From Purchasing Farmland In Hungary
- 9 Oct 2015 9:00 AM
- property
The government’s programme of selling off state-owned land to farmers is aimed at preventing foreign nationals from acquiring farmland in the country, János Lázár, head of the government office, told a regular government briefing. Lázár said it was important to ensure that Hungarian farmers have the opportunity to buy state-owned land.
Századvég Lowers Hungary’s GDP, Inflation Forecast For 2015
- 23 Sep 2015 9:00 AM
- business
Economic research institute Századvég has lowered its GDP growth forecast to 3.1% for 2015 from 3.4% forecast in June. The economy was weaker than expected in the second quarter, the think-tank said, adding that the deterioration in the economic outlook is related to one-off factors which do not affect Hungary’s growth potential. Economic output is expected to grow by 2.5% in 2016 compared with ...
Hungary May Turn To EU For Lower VAT On Internet
- 5 Mar 2016 8:00 AM
- tech
Hungary may turn to Brussels asking reduction of the value added tax on internet services, the government commissioner in charge of internet programmes said on Friday. Tamás Deutsch said in the online edition of daily Magyar Idők that Hungary’s government decided to cut the VAT on internet services from 27 percent to 18 percent as of January, 2017.
Hungary’s Employer Group Chief: High Tax Rates Hamper Proper Wage Reform
- 31 Dec 2015 8:00 AM
- business
Employment and income tax rates need to be reduced because the current tax system is hampering a proper wage reform, the chief secretary of the National Association of Employers and Entrepreneurs (VOSZ) said. Ferenc Dávid said a gross wage of 100,000 forints (EUR 320) costs the employer approximately 128,500 forints factoring in social contributions while the employee’s net wage ends up being ...
Hungarian Govt Proposes Reduced Banking Tax From Jan 1
- 12 Dec 2015 8:00 AM
- business
The government has proposed lowering the banking tax as of January 2016 from 0.31% to 0.24%, the economy ministry said. The reduction was proposed based on informal signals from the European Commission and an agreement with the European Bank for Reconstruction and Development (EBRD), the ministry said. The tax’s lower bracket would remain the same, 0.15% up to 50 billion forints.
Hungarian Parlt Raises Tax On Fruit Brandy Pálinka
- 18 Nov 2015 8:00 AM
- business
Parliament raised the tax on distillation of Hungarian pálinka fruit brandy for personal consumption by 700 forints (EUR 2.24) per litre to comply with a ruling by the European Court. From January it will be obligatory to purchase “distillation stamps” for every litre of pálinka. Individuals may purchase between 5 and 86 of the 700 forint stamps.
Hungarian Parlt Passes Taxpayer Classification, Red Tape Reduction Laws
- 18 Nov 2015 8:00 AM
- business
Lawmakers approved bills on cutting red tape and classifying taxpayers based on tax compliance risk. The bill put forward by government office chief János Lázár aims to simplify and speed up public administration, scale back the number of steps needed to obtain permits and reduce completion deadlines. Activities no longer requiring permits will include the sale of precious metal jewellery, ...
National Bank Of Hungary May Keep Base Rate Unchanged Until 2018, 2019
- 28 Oct 2015 8:00 AM
- business
The National Bank of Hungary (NBH) may keep its base rate at a record-low 1.35% base rate until 2018 or even 2019, beyond its horizon for monetary policy, deputy governor Márton Nagy told Reuters. Nagy also said that the NBH will announce a set of incentives to boost business lending next Tuesday, and it expects to close a deal to acquire a majority stake in the Budapest Stock Exchange within ...
Contract Distillation Of Pálinka In Hungary Drops By 80%
- 15 Oct 2015 5:00 AM
- food & drink
Distilleries in Hungary have produced 2 million litres of fruit brandy pálinka this year, less than 20% of the amount distilled in 2014; the drastic drop largely resulted from the elimination of tax exemption for home distillation of spirits from January 2015, daily Magyar Idők said. Legislation in force since the autumn of 2010 allowed Hungarian households to distil for personal consumption an ...
Foreigners Prevented From Purchasing Farmland In Hungary
- 9 Oct 2015 9:00 AM
- property
The government’s programme of selling off state-owned land to farmers is aimed at preventing foreign nationals from acquiring farmland in the country, János Lázár, head of the government office, told a regular government briefing. Lázár said it was important to ensure that Hungarian farmers have the opportunity to buy state-owned land.
Századvég Lowers Hungary’s GDP, Inflation Forecast For 2015
- 23 Sep 2015 9:00 AM
- business
Economic research institute Századvég has lowered its GDP growth forecast to 3.1% for 2015 from 3.4% forecast in June. The economy was weaker than expected in the second quarter, the think-tank said, adding that the deterioration in the economic outlook is related to one-off factors which do not affect Hungary’s growth potential. Economic output is expected to grow by 2.5% in 2016 compared with ...