Hungarian companies will pay on average 10.9pc of their pre-tax profit as corporate tax because of reductions in tax preferences, up from 7.4pc in 2009, business daily Napi Gazdasag said on Wednesday, citing targets in the 2010 budget bill.
Although the corporate tax rate will fall from 20pc to 19pc (the 4pc “solidarity tax” will be scrapped, but the corporate tax rate will rise from 16pc to 19pc), tax preferences will be cut, causing the corporate tax burden to grow. The amount companies may deduct from their tax base for investments over HUF 3bn will fall to HUF 8.5bn in 2010 from HUF 21.2bn. The deductions for developments decided on a case-by-case basis will drop to HUF 12bn from HUF 26bn.
Companies who opted for the Simplified Business Tax are expected to pay HUF 183.9bn to the state in 2010, up from a projected HUF 161bn in 2009 as the rate for the tax will rise from 25pc to 30pc.
The government expects companies to pay HUF 544.5bn in corporate tax in 2010, up from a projected HUF 499bn in 2009. Combined pre-tax profit of companies is seen falling to HUF 4,988bn in 2010 from HUF 6,780bn projected for 2009.
Yet many magyarok pay 48% income tax. How can you improve yourself in magyarorszag? I mean, other than theft and political corruption? The system forces a magyar to become a criminal. some system. even lawyers violate the tax system (that they created). Most lawyers I know in hungary only take cash. (!!!!)
Here we go again, MTI hacks + RealDeal.hu followers.
“Although the corporate tax rate will fall from 20pc to 19pc… but the corporate tax rate will rise from 16pc to 19pc.”
Wow!!! So, let me see if I follow the government’s logic here, as reported by MTI and RealDeal.hu. The Hungo government is apparently both REDUCING the corprate tax rate by 1 percent, while at the same time also INCREASING it by 3 percent!?
Wow!!! Just how do those crafty Hungos do it, huh!? Beats me, actually.
Corruption begets corruption. The current tax system
and level of taxation ensures that even lawyers only transact business if payment is guaranteeed in cash.
Sorry people…twenty years have gone by and still commie bureaucracy and procedures rule the day.
Politicians with less idea than a five-year-old child continue to lead Hungary by the nose into
the never-ending cycle of economic disaster and
social despondency.
Have you not heard the wonderful news from our leader? We will be regional leaders again in a couple of years. All hail MSzP. Masters of the Universe.
@Naive: “Have you not heard the wonderful news from our leader? We will be regional leaders again in a couple of years.”
MY TAKE: Yeah, all true, too. Of course, come to think of it…. that is exactly what King Mathias Corvinus had also promised to the receptive magyars in the 15th Century….
Gyuszi G. Do you know what i hate? The echo you get when you speak into a big Juicy Gee you just keep hearing back the same old shit all the time.
@Naive, go fuck Troll, you twarp!
Gyuszi G.: You realize that if you just call people names it generally means you just lost whatever argument you were in.