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Amendments to tax laws proposed – draft bill

04 November 2008

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Proposed Changes

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Hungary

On 19 September 2008, the Ministry of Finance introduced to parliament a draft bill in respect of the following: -   amendments to the corporate and personal income tax regimes; -   procedural adjustments; and -   new accounting provisions. Some of the amendments are aimed at simplifying the tax system. In order to take effect, they must be adopted by the parliament. The final bill is expected to be approved in November 2008. The main features of the proposed amendments are summarized below. Further details will be reported subsequently. Corporate income tax and solidarity tax The major proposals are...