Finance Minister Mihaly Varga – Photo: MTI

Finance Minister discusses tax cuts for SMEs with chamber of commerce head

Despite the war, Hungary's government is planning to introduce further tax cuts for SMEs, the finance minister said on Friday, after talks with Laszlo Parragh, the head of the Hungarian Chamber of Commerce and Industry (MKIK).

The government is committed to cutting red tape and taxes for companies, the ministry cited Mihaly Varga as saying. The government will expand tax cuts for companies employing people living with disabilities, and cut red tape for companies, he said.

Varga praised MKIK’s role in representing the interests of SMEs, which he said contributed to a “successful economic policy and to companies weathering back-to-back crises more easily”.

Parragh and Varga agreed that tax cuts for SMEs would improve companies’ competitiveness and Hungarians’ quality of life.

Last year, the OECD ranked Hungary among the ten countries with the most competitive tax environments, putting it ahead of countries like Sweden, Germany and Austria, he added.

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