June 8, 2010 / 10:36 AM / 10 years ago

Hungary govt plans flat tax, public sector wage cut -report

BUDAPEST, June 8 (Reuters) - Hungary’s new government plans to introduce a flat personal income tax of 16 percent from 2011, as well as a 15 percent cut in public sector wages and a special bank tax, the Website of leading local newspaper Nepszabadsag, nol.hu reported on Tuesday. Prime Minister Viktor Orban told members of the governing Fidesz party’s parliamentary group that the plans would also include a family tax scheme, according to the report.

The government also plans a tenfold increase in the tax bracket for small and medium enterprises paying 10 percent corporate tax to up to 500 million forints of annual revenues, nol.hu said, citing unnamed parliamentary sources. Orban will announce the measures at 1100 GMT.

Reporting by Marton Dunai and Krisztina Than; Editing by Susan Fenton

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