“We have a paper on the topic: The Hungarian tax system is one of the most competitive in the world,” Finance Minister Mihály Varga wrote in his Facebook post.
As the Prime Minister proves through the attached chart, Hungary has risen to seventh place in the international tax competitiveness ranking of the Analytical Institute in Washington. “In the Tax Foundation’s tax competitiveness ranking, Hungary rose from 11th to 7th place among the 38 OECD member states,” added Mihaly Varga.
He drew attention to the fact that Hungary ranks third in the international tax environment, fourth in corporate tax rate, and fifth in imposing taxes on individuals. This puts us ahead of countries such as Sweden (12th), Germany (16th), Canada (17th), the United States (18th), and Korea (24th).
The government's tax policy is based on reducing taxes, supporting families and companies, and economic simplification and whitewashing. As a result of this economic philosophy, and through the work of the past decade, we have created one of the most competitive tax systems in the world
Mihaly Varga said.
The Prime Minister promised to continue the tax reduction policy and double the tax exemption for children in two steps.
