Hungary EcoMin submits bill to lower social contribution tax

Portfolio
Hungary’s Economy Minister Mihály Varga has submitted a bill to Parliament on Tuesday that would lower the employers’ social contribution tax to 19.5% from the current 22% as of next year.
According to a wage agreement inked in November 2016, the social contribution tax payable by employers was reduced by five percentage points to 22% this year, and further to 20% from January 2018.

They also agreed that if the gross average wage rises by at least 11% year on year in the January-September period, the tax would be cut by additional 0.5 percentage points.

Hence, the current proposal is no surprise at all.Front page photo by MTI fotó/ János Marjai
 

More in Economy

March 28, 2024 13:31

Wage agreement reached in Hungarian Mercedes plant

Unilaterally, after 15 failed attempts

mnb inflacios jelentes
March 28, 2024 13:15

A weak forint is bad for inflation, according to Hungary's central bank

Inflation Report published

influenza beteg nő
March 28, 2024 11:00

More Hungarians seek medical help with acute respiratory infection

Influenza-like symptoms drop further, though

csecsemő baba születés
March 28, 2024 09:55

Hungarians' willingness to have children diminishes further

Number of live births at record low

hotelszoba - örömködő idősek -  Getty
March 28, 2024 09:40

Tourism getting perkier in Hungary

February data show pleasant growth

dolgozó worker gyár gyári munkás ipar
March 28, 2024 09:20

Gross average wage already over HUF 600,000 in Hungary

Wage growth is extremely fast