Index - Economy - Save on Small Taxes

Index – Economy – Save on Small Taxes

Next year, the small business tax (Kiva) will become more favorable, as it will be reduced to ten percent. Iser Norbert, Secretary of State for Taxes at the Ministry of Finance said that small and medium-sized enterprises can save a lot of money by choosing the right tax method, and the Ministry of Finance’s calculator is now helping companies.

Currently, there are 68,000 companies that will exit, Norbert Iser said. Next year, they can save a total of ten billion forints with a one percentage point tax cut.

This amount is expected to increase even more, as more people are likely to choose Kiva, as there are tens of thousands of companies that would be better off with this type of tax.

Norbert Iser noted. He added that the updated Kiva calculator now only helps these companies. Calculates how much public money can be saved with this simple tax method.

Next year, the 10 percent increase in the MTI Series will replace the 9 percent corporate tax and 13 percent social contribution tax, leaving the company’s remaining profits untaxed. The foreign minister said that the small business tax is the most competitive type of tax in the EU, which benefits not only the companies involved, but the entire country as well, as it encourages investment and employment.

Norbert Iser said the Treasury’s calculator calculates how much tax a company can save next year by selecting the small business tax in ten minutes. He added that anyone who saves on your tax next year would be better off not saving ten minutes on the calculator this year.

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