New corporate tax rate said to make Hungary a tax haven

Tweet
Comment

The new 10% corporate tax rate for companies with annual revenues of up to Ft 500 million qualifies Hungary as a tax haven, local business media reported.

According to Hungarian law, any company that is registered abroad and pays less than 12.67% corporate tax falls into the category of controlled foreign company, and should also pay tax in the country it operates. Domestic companies, naturally, cannot fall into this category, the report added.

The corporate tax rate is 10% in Bulgaria and Serbia, 16% in Romania, 19% in Slovakia, 20% in Croatia and Slovenia, and 25% in Ukraine and Austria.

Several Hungarian companies that are registered in Slovakia are mulling a return to Hungary in response to the corporate and personal-income tax cuts, Slovak business daily Hospodárské Noviny wrote.

Comments

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.

Comments are closed.