Personal Taxes

The pinnacle of the auditors proposes the abolition of revenue tax

The head of the State Audit Office (ÁSZ), László Domokos, said in an article published Wednesday in the daily Magyar Nemzet that, ideally, income tax should be abolished entirely. Punishment”.

On the other hand, social security, which covers the cost of pensions, health care and other benefits, is viewed as a discount to personal safety rather than a burden, he wrote.

Domokos said the key to economic success is employment policy, which aims to revitalize the labor market by dismantling government barriers. Therefore, taxes should be lowered as much as possible, he added.

The government has initiated this process, he said, citing measures such as exempting mothers raising four or more children from PIT while preventing young earners from paying income tax up to the national median wage. The contributions paid by companies have also been reduced, Domokos noted.

Related article

PIT exemption for under 25-year-olds in Hungary has a stronger effect than previously assumedPIT exemption for under 25-year-olds in Hungary has a stronger effect than previously assumed

In January, Prime Minister Viktor Orbán announced that young Hungarians under the age of 25 would not have to pay income tax from 2022. According to the Central Statistical Office (KSH), around 270,000 young people will be affected by politics in January. However, new research shows that the number is closer to […]Continue reading

Despite targeted tax breaks, the state has received more revenue from PIT in the face of successive large wage increases, while revenue is now generally at a higher level due to the drastic shrinkage of the underground economy, he noted.

Selected photo by Tamás Kovács / MTI

Related Articles