Bloomberg News

Hungary Doesn’t Plan Tax Rises for Next Year, Vilaggazdasag Says

January 31, 2012

Jan. 31 (Bloomberg) -- Hungary doesn’t plan tax increases for next year to compensate for the extraordinary industry taxes that are in place until the end of this year and the halving of a special levy on banks from 2013, Vilaggazdasag reported.

The International Monetary Fund, which criticized the government’s flat personal income tax for hurting growth and investment, “doesn’t understand in full the new, proportional” fiscal regime, Economy Ministry Deputy State Secretary Adam Balog told the Budapest-based business newspaper.

The government is “unlikely” to amend the personal income tax regime as it’s “an important part of our economic policy,” Balog was quoted as saying by Vilaggazdasag.

--Editors: Paul Abelsky, Alan Crosby

To contact the reporter on this story: Zoltan Simon in Budapest at zsimon@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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