Hungary not to scrap simplified business tax, decides to raise its rate.

By bne IntelliNews November 15, 2011
Contrary to previous proposals for scrapping the simplified business tax, Hungarys government will keep the levy and raise it to 40% from 30% as of next year, portfolio.hu reported. Under the current tax legislation, companies with annual gross revenue below HUF 25mn can pay a tax of 30% on their revenues, instead of the regular corporate profit tax. The new changes will increase the rate to 35-40%, with companies with an annual revenue of up to HUF 30mn being eligible for the tax.
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