Hungarian VAT rate set to rise to highest in EU

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Hungarian VAT rate set to rise to highest in EU

October 04 2011

The Hungarian government has announced that VAT will increase from 25% to 27%. The rise was announced ahead of the 2012 budget which aims to add HUF1 trillion ($4.75 billion) to government coffers to meet its target of having a deficit of 2.5% of GDP at most.

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