Hungary’s government has approved tax cuts worth 205 billion forints, (EUR 843 m), to be submitted to parliament on Friday, Finance Minister Janos Veres told the press.
Social contributions paid by employers will be cut by 4 percentage points from April 1, 2009 instead of the earlier proposed 5 percentage points, Veres said.
An earlier touted 11 percent tax on employee’s benefits does not figure in the bill, he said.
Veres said two thirds of the tax cuts would benefit businesses while a third would apply to individuals.
The All Hungary Media Group is firmly committed to freedom of expression and therefore applies a mostly "hands off" approach to comment moderation. Comments left by readers represent their own views and do not necessarily reflect the opinions or beliefs of the staff, editors or owner of the All Hungary Media Group, who nonetheless reserve the right to remove comments that are off-topic or which moderators consider to constitute "hate speech." Also note that in order to prevent spam we generally close entries off to comments several days after publication.
