Ádám Balog, state secretary in charge of tax issues at the Economy Ministry officially announced that Hungary’s government will not introduce a property tax, nor will it be imposing a nationwide real estate tax. He says that the overall tax burden on households hasn’t risen in the past two years. Next year the Simplified Entrepreneurial Tax (SET/EVA) might be replaced by a new levy to be placed on manufacturers. The government expects to be able to tap 300,000 more companies for tax revenues in this way. Balog says the government is anxious to make it easier for companies to expand their payrolls.
