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Hungary to carve out flat rate for income tax

Hungary’s government plans to enshrine the basic principles of its flat personal income tax system in a law requiring two-thirds parliamentary majority, economy minister Gyorgy Matolcsy said on Friday.

world Updated: Jun 04, 2011 00:40 IST

Hungary’s government plans to enshrine the basic principles of its flat personal income tax system in a law requiring two-thirds parliamentary majority, economy minister Gyorgy Matolcsy said on Friday.

Matolcsy told website www.fn.hu that the two key principles to be set would be that the personal income tax has to have a flat rate, and the system should support families with children.

“We will set two key principles: one is that the Hungarian personal income tax system is proportionate, which means it has a flat rate, the level of which can change,” he said.