In the focal point of taxation policy: securing financial balance, acknowledging aspiring entrepreneurs and reducing the proportion of income taxes while increasing the role of consumption and turnover taxes.
In line with the announced taxation policy guidelines, the objectives in which tax amendments for 2013 have been focusing on are as follows:
- cementing the proportionate, flat rate personal income tax system;
- stabilizing the budget parallel to maintaining a constantly declining general government debt-to-GDP ratio;
- modifying the rates of duties;
- improving business conditions and competitiveness, stimulating investments;
- reducing administrative costs for taxpayers, cutting tax and customs red tape;
- strengthening tax morale;
- improving the efficiency and transparency of taxation regulations;
- and correcting anomalies arising from applying regulations.
These prioritized objectives can be attained via the amendments which this study presents in detail. Some changes proposed by the Government are aimed at keeping the fiscal deficit well below 3 percent, others at improving business conditions or reducing administrative burden for private persons and some of them are necessary for improving tax morale.
The government considers it a priority to create fiscal stability, contribute to establishing a competitive and efficient economy, as well as fulfill requirements of legislative harmonization.
It is crucial that as many as possible of private persons and enterprises wishing to pay taxes in Hungary be informed of tax amendments for 2013 adopted at the autumn session of the Parliament (19 and 20 November 2012), and soon an overview of proposed amendments will be presented on the website.
(Ministry for National Economy)