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Pankucsi Zoltán Deputy State Secretary

Hungarian tax policy in the light of EU and international developments. Pankucsi Zoltán Deputy State Secretary. Key features of Hungarian tax system. Reduced tax burden on labor Low capital taxation Increased taxes on consumption and harmful externalities

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Pankucsi Zoltán Deputy State Secretary

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  1. Hungariantax policy inthelight of EU and internationaldevelopments Pankucsi ZoltánDeputy State Secretary

  2. Key featuresof Hungariantaxsystem • Reducedtaxburdenon labor • Lowcapitaltaxation • Increasedtaxesonconsumption and harmfulexternalities • Additionaltaxesonsectorswith extra profit • Taxbasebroadening • Improvingtaxcollectionefficiency

  3. Taxationtrendsin Hungary • More employment-friendly taxation of labour • addressingyouth unemployment and • encouragingwomen's participation • Creatingattractive business environment • lump sum tax for small taxpayers (KATA) • Smallbusiness tax (KIVA) • Free entrepreneurial zones • Fightingagainstshadoweconomy, improvingtax compliance • Electronic connection of cash registers to the tax authority • Reverse charge VAT in agriculture

  4. Taxationtrendsinthe EU • Simlification oftax systemsand improvingefficiency • Shift fromdirecttaxationtowardsindirect, greenorpropertytaxes • Fightagainsttaxfraud • Enhancedcooperationamongtaxauthorities • Modification of theSavingsDirective and theDirectiveonAdiminstrativeCooperation • Indirecttaxation • Broadening VAT base • More effectiveimplementation, fightingtaxfraud • Directtaxation • Individualtaxation – adressingyouthunemployment • Business taxation– Financial TransactionTax, CommonConsolidatedCorporateTaxBase, Codeof Conduct, JointTransferPricingForum

  5. Hungarianposition • Yestosimplification, raisingeffectiveness, administrativecooperation, fightagainsttaxfraud • No toharmonization and givingupsovereignty • VAT: simplification, quickreactiontofraud • Corporatetaxation: Code of Conduct, JointTransferPricing Forum, • CCCTB is notsupported • FTT: Hungary is „quasiobserver” • Automaticinformationexchange: supported

  6. Fightagainsttaxfraud Hot topicinthe EU and ontheglobalscale • OECD BaseErosion and Profit Shifting Project- BEPS • EU Tax Platform • New global standard ininformationexchange • G5 initiativeonautomaticinformationexchange • ET-OECD ConventiononMutualAdministrativeAssistance • ForeignAccount TaxComplianceAct - FATCA

  7. Hungary intheglobaltaxsystem • 73 DTAs in effect and severalare under negotiation; • First country to sign the FATCA Agreement with the US in the region; • Active cooperation with thirdcountries; • Supporting the fight against tax evasion whilekeeping tax sovereignty.

  8. Thankyouforyourattention!

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