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Hungary Needs Growth Friendly Tax Reforms: IMF

by Ulrika Lomas,, Brussels
Monday, March 13, 2017

Hungary should improve tax administration and cut back on the number of tax exemptions, the International Monetary Fund has said.

In its annual review of Hungary's policies, the IMF welcomed a reduction in the tax wedge on labor and some movement away from distortive sectoral taxes.

It added that the country should continue reducing these taxes and simplify its multi-rate value-added tax regime.

The statement said that Hungary could improve its business environment "by addressing perceived corruption through improved transparency, enhancing policy predictability, continuing to improve the ease of paying taxes, and streamlining regulations."

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