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Tax Changes Bring Opportunities for Hungary

This newsletter looks at the relevant tax law changes applicable in Hungary as of 1st January 2011. Taxand Hungary identifies how these changes on their tax laws such as corporate income tax, crisis tax and local business tax will impact companies operating a business in Hungary. There is also a brief summary on general rules of taxation that tax payers should be aware of.

Taxand's Take

The most important change that companies should be aware of is that Hungary is implementing a flat rate of 16% on Personal Income Tax and starting to implement a 10% flat rate on Corporate Income tax within a very short period of time. These changes will create tax planning opportunities for foreign investors and individuals and will hopefully put Hungary in a very good position tax.

Your Taxand contact for further queries is:
Ildik? Hadas
T. +36 1 270 9900

Download the latest tax changes in Hungary below:

Taxand's Take Author