Hungary approves corporate tax changes

August 08 2010

The Hungarian parliament approved the corporate tax changes proposed earlier this year, on July 22 2010.

The corporate tax rate is now 10%, reduced from 19%, taxable from Ft250 million ($1.19 million) to Ft500 million.

The changes are effective from January 1 2011. The 10% corporate tax rate is the lowest in the EU alongside Bulgaria and Serbia.

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