A general VAT reduction is possible in the long run

Varga Mihály, Minister of Finance also spoke about the government’s long-term tax plans in the interview with Világgazdaság. Among these, he mentioned that the government would like to reduce the 27 percent general VAT rate, but only in the long run – portfolio.hu wrote.

Cautiousness is not only the characteristic of the conservative budget policy, but the Hungarian government wants to prepare for the slowdown of the world economy and the escalation of commercial wars with the economic protection action plan, the minister said. (portfolio.hu)