Hungary's main opposition party Fidesz has said on Tuesday it would cut both the lower and upper bracket of the personal income tax (PIT) if they were elected back into power in April elections.
The lower bracket of the PIT would be 13% and the upper between 15% and 20%, as opposed to the current 18% and 36%, György Matolcsy, former Minister of Economic Affairs in the Fidesz government (1998-2002) told a forum of the Association of Hungarian Entrepreneurs and Employers.
He said the current personal income tax burden would be halved if this idea was put into practice.
We must note, however, that the actual tax burden is greatly determined by the income range the different brackets are attributed to.
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