Hungary to broaden corporate tax base and raise levies on major polluters

Hungary plans to broaden its corporate tax base and end selective levies introduced during the Viktor Orban era, Prime Minister Peter Magyar said on July 17.

Speaking after a government meeting, Magyar said the measures would include ending tax breaks for multinational companies and scrapping an Orban-era levy on carbon dioxide credits. The government also plans to double a tax on air pollutants, Bloomberg reports.

Authorities will review the country’s largest polluters and introduce higher levies to force them to comply with what Magyar described as the European Union’s strictest environmental regulations.

Magyar said the government’s goal was to make Hungary’s tax system simpler, more transparent and fairer.

By Sabina Mammadli