KPMG: the importance of consumer taxes increases worldwide

The governments around the world are planning to collect more revenues from VAT, after the corporate tax rates are decreasing together with the profits of the companies and the corporate profits and labor can increasingly flow freer – KPMG drew attention in its Monday communication with KPMG commenting on OECD’s recent publication analysing consumption taxes.

Hungary’s 27 percent VAT is 8 percentage points higher than the average of OECD. This is one of the highest VAT rate all over the world.
KPMG has recognized the growing importance and complexity of VAT and opened its European competence center on Indirect Taxation in Budapest of which is expected to increase its revenue as well as the number of its employees. (MTI)