KPMG: VAT increases worldwide, while a reduction occurs in corporate tax

The governments in 2012 continued to increase the VAT rates to earn money, and reduced the corporate income tax to attract new investors to their country – shows the Corporate and Indirect Tax Survey annual study of KPMG.

Hungary was the leader in the rate of VAT of 27 percent in 2012, but in terms of corporate tax it is closer to the global average.

The analysis shows that the global average indirect tax rate increased by 0.17 percent to 15.5 percent, and this growth trend is expected to persist this year as well.  (MTI)