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Hungary carried out one of the largest economic laundering operations

Hungary carried out one of the largest economic laundering operations

Not the government, but the European Commission says: Hungary has carried out one of the largest economic laundering operations in Europe since 2010.

– written by Mihaly Varga on his Facebook page.

Photo: György Kalos / Világgazdaság

The Minister of Finance stated that it was based on a study by the European Commission

The rate of unpaid VAT has fallen from 22.3% to 4.4% in Hungary since 2010. He added that this is the fourth largest improvement among EU member states.

The politician also wrote that the Hungarian VAT rate is much more favorable than the regional average of 10.8 percent and the EU average of 7.4 percent. This means that the government’s tax policy is effective, according to which taxes should not be increased, but collected. He said: “Thanks to economic whitewashing measures, the number of abuses has decreased significantly, more people pay less taxes, and the biggest winners are companies that manage their businesses properly.”

Earlier, the Minister of Finance said that the decline in revenues should not be compensated for with new taxes, but rather by whitewashing the economy. According to Mihaly Varga, the government has already achieved great results in this area, but due to the difficult economic situation, there is still work to be done. He added that today Hungary has the lowest corporate tax in Europe, and the country is on the podium for personal income tax as well. The Minister noted: In light of the difficult economic situation, consumption has decreased The country’s revenues are low due to EU subsidies owed to Hungary, but not yet received.

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