Hungary to End Tax Breaks, Hike Polluter Taxes

Hungary is embarking on a significant reform of its corporate tax structure. Prime Minister Peter Magyar announced that the government will dismantle what he described as "selective" levies that characterized the Viktor Orban era. This initiative aims to broaden the tax base and ensure a more equitable distribution of the tax burden across the corporate sector.

A key component of the planned reform involves the cessation of tax breaks that have been available to multinational companies. This move is expected to contribute to a more level playing field for businesses operating within Hungary. Additionally, the government intends to increase the tax burden specifically on entities engaged in polluting activities.