It would stand to reason that if everything were more expensive, we would pay much more in taxes on our purchases, yet state VAT revenues will not increase this year compared to 2022.

Hungarians paid just 1.9% more value-added tax in September than a year earlier, while consumer prices rose by 12.2% on average. In the first nine months of the year, a total of 20 billion Hungarian forints in value-added tax revenue entered the budget compared to the period from January to September last year, i.e. 5,064 billion forints after 5,044 – public finance data were published on Friday. However, if everything becomes more expensive, then, in principle, VAT should be obtained much more – A The wallet has now calculated a rowWhat can cause a recession?

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They came to the conclusion that total VAT revenue (i.e. the amount of VAT that flowed into the budget, even before the VAT recovery) rose slightly more than this, but only by 7.35 percent, while the annual inflation rate remained 20.9 per cent. The hundred. In addition to declining consumption, this may also mean that people living along the border prefer to cross to buy abroad, and the economy may also turn gray.

At the same time, especially at the beginning of the year, the state returned much more VAT to companies than a year ago. This process stopped in August and September, but these were the months when total VAT revenues were worse than in 2022.




HVG


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