Viktor Orbán's government pounded tax cuts!

Not what we say: Eurostat says. Not "stealing", but HELPING YOU!

Viktor Orbán's government pounded tax cuts!

As a result of the tax reduction, families can stay at least one hundred thousand forints a year. According to Eurostat statistics, the third largest tax deduction as a share of GDP decreased in Hungary between 2009 and 2020. While the state deducted 38.9 percent of GDP in 2009 in the form of taxes and contributions, in 2020 it was 36.4 percent. This value is significantly lower than the average of the EU member states (41.3 percent in 2020) - this was reported by László György, State Secretary of the Ministry of Innovation and Technology on his community page.

The secretary of state said the tax deduction as a proportion of GDP shows what proportion of economic performance remains with families and businesses. "The right-wing government believes in a policy of tax cuts: our goal is to keep what families and businesses produce with them," he said.

Expressed in numbers: if taxes had remained at the level experienced by the left-wing government after 2010, the state would have collected HUF 1,200 billion more in taxes from families and businesses in 2020. This means almost 300 thousand forints per household per year - emphasized László György.

The Secretary of State then listed what taxes the government has cut since 2010:

The highest rate of personal income tax fell from 36 percent to 15 percent.
Mothers with four children and young people under the age of 25 do not have to pay personal income tax.
The rate of the family tax credit increased from HUF 12 billion in 2009 to HUF 980 billion by 2022.
The public burden deducted from the wages of retired workers fell from 49.5 percent to 15 percent.
The corporate tax rate fell from 20 percent to 9 percent.
The employer tax (soco) fell from 33.5 percent to 13 percent and the vocational training contribution was abolished.
Instead of HUF 5 million, the subject is now exempt from VAT up to HUF 12 million.
The administration fee was reduced from HUF 2,200 to HUF 0.
The rate of inheritance and gift tax between direct relatives and spouses decreased from 15–21 percent to 0 percent.
In addition, a number of other measures and wage increases help Hungarian families:

László György reminded that between 2002 and 2010, the left constantly raised taxes, putting families and businesses in a difficult position. The right, on the other hand, has been cutting taxes consistently since 2010. This is the path we need to take in order to create an economic environment that is competitive for our businesses and high wages and rising living standards for our families.

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Tags: European Union  Tax