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Tax package for 2013 – presented

09 February 2013

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Proposed Changes

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Hungary

On 12 October 2012, the Minister of National Economy submitted a bill introducing the 2013 "tax package" to the parliament. The bill is designed to: -   streamline the tax system; -   to implement a strict flat tax rate into individual income taxation; -   to support families with kids; and -   to resolve certain tax technical and legal issues. The proposals, if adopted, will change among others the tax rates of the transfer, inheritance and gift tax, make the business environment more competitive, and strengthen tax moral. The most important features of the package are as follows:...