Hungarian tax system among 10 most competitive in OECD countries
Hungary has moved up six places to seventh in this year's Tax Competitiveness Index, which assesses the attractiveness of tax systems in OECD countries.
The EX release highlighted that Hungary was ahead of Germany (15th), Austria (18th) and the United States (21st). Among the Visegrad Four, only the Czech Republic (5th) came ahead of Hungary.
Estonia tops the 2022 Tax Competitiveness Index, followed by Latvia and New Zealand, with Portugal and Italy at the bottom of the list, ahead of France.
The study highlights Hungary’s greatest strengths as having the lowest corporate tax rate among OECD countries (9 percent) and having tax rules for international companies that were rated above average.
Among the disadvantages, the report highlighted the highest VAT rate in OECD countries at 27 percent. The EY Tax Competitiveness Index considers more than 40 variables across five categories: corporate taxes, individual taxes, consumption taxes, wealth taxes and international tax rules.