July 24th, 2008
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Tax authorities enjoy 10.8% jump in 1Q revenue, audits up 21.6%

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Hungary’s tax office APEH had revenue of HUF 4,446bn (EUR 19.44bn) in the first half of 2008, 10.8pc more than in the same period last year, APEH announced on Wednesday.

APEH collected HUF 156.4bn unpaid taxes during the first six months of 2008.

APEH completed 144,000 asset audits during the first half of 2008, 21.6pc more than in the same period of last year. These audits revealed HUF 281.4bn in unpaid taxes, of which 82pc was unpaid VAT.

APEH initiated 518 criminal procedures against 518 individuals during the first half of 2008, 14pc more than in H1 2007. The tax office uncovered 835 instances of tax evasion worth a total of HUF 21bn during the period.

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  1. Rolrox says:
    July 25, 2008 at 5:18 pm

    Can anybody set me straight here…

    The average monthly cost to operate Hungary Inc is 1250 B HUF.

    The gov’t issued debt instruments, according to
    http://www.realdeal.hu/20080725/hungarian-state-modifies-debt-issuance-plan-set-to-raise-ft-33-trillion-in-2h-2008 only netted 700B. And they hope to net another 450 for the 2nd half.

    Here’ the tax office only collect 4,450B – for the first half.

    Effectively:-
    15,000 to run the country
    9,000 in taxes – if projected (straightline)
    1,150 in bonds

    Is there going to be a short fall?

    Or is the shortfall made up towards the 2nd half of the year?