Minister for the Economy wants VAT System with five keys

Matolcsy György in a book review published in Heti Válasz on Thursday favors the introduction of the financial value added tax and the introduction of a VAT System. He writes, that a quiet tax revolution is taking place in Hungary.

Matolcsy wrote that “VAT would be better with five keys – 5, 15, 20, 25, 30 percent – but still does not allowed by the union.”

He promises, that the government will introduce a simplified corporation tax for small businesses – until 30 employees – and creates favorable-taxed “free enterprise zones” in the backward regions. [Origo].