Ministry of Finance

Mihály Varga

Minister of Finance

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Taxes set to be lowered again in 2019

Ministry of Finance, June 21, 2018 10:52 AM

The tax package bill scheduled to be submitted by the Ministry of Finance to the parliament on Tuesday has the highest number of simplified regulations ever.

Organizations assisting immigration to pay a surcharge in Hungary

Ministry of Finance, June 20, 2018 9:58 AM

According to the Government’s proposal and the tax package submitted to parliament earlier today, organizations which assist immigration are to pay a special tax.

The deficit target remains unchanged

Ministry of Finance, June 19, 2018 2:42 PM

In the period January-May 2018, formerly prevailing trends continued with regard to public finances: of these, the pre-payment of funds for EU-financed projects and rising tax revenues can be singled out as the most significant. The Government continues to expect economic growth of 4 percent and a budget deficit of 2.4 percent of GDP for the year 2018.

International Investment Bank to open a regional branch office in Budapest

Ministry of Finance, June 19, 2018 9:46 AM

The International Investment Bank (IIB) is to open a regional branch office in Budapest, Minister of Finance and Deputy PM for Economic Policy Affairs Mihály Varga said after having signed an MoU with IIB Chairman Nikolay Kosov.

By 2021, tax administration burden to be cut by half

Ministry of Finance, June 15, 2018 11:34 AM

The National Tax and Customs Administration (NAV) may play a key role in boosting the competitiveness of enterprises, Minister of Finance Mihály Varga said at an executive meeting, where he introduced László Sors as the newly appointed head of the tax office. Besides becoming a paper-free office by 2021, the NAV will also be capable of preparing a high number of tax returns for enterprises thanks to the inflow of data, and thus this will reduce the burden of tax administration by half.

The „budget of safe growth” submitted to Parliament

Ministry of Finance, June 14, 2018 10:01 AM

In the drafting of the Budget 2019 the Government’s priorities were to safeguard Hungary’s security, maintain economic growth and achieve full employment, Minister of Finance Mihály Varga said at a press conference earlier today.

Hungarian economic policy aimed at establishing stable growth

Ministry of Finance, June 11, 2018 10:20 AM

Hungary’s economic performance has been increasingly sound and balanced, Minister of Finance Mihály Varga said at a business forum organized by the American Chamber of Commerce (AmCham) in Budapest.

World Bank also predicts higher GDP growth in Hungary

Ministry of Finance, June 6, 2018 3:30 PM

The World Bank revised its former GDP growth estimate of January 2018 for Hungary upward, by 0.3 percentage points.

Hungarian economy posted outstanding growth

Ministry of Finance, June 6, 2018 3:20 PM

In Q1 2018, Hungary’s GDP grew by 4.4 percent, the same rate shown by preliminary data. Data adjusted for seasonal and working day effects, which better reflect underlying trends, show an even higher increase of 4.7 percent.

Hungary disagrees with the budget proposals of the European Commission

Ministry of Finance, June 1, 2018 1:11 PM

Hungary understands that due to Brexit one of the largest contributors is leaving the EU and this causes the EU budget to shrink but we oppose the cutting of cohesion and agricultural funds, Minister of Finance Mihály Varga said after he received EU Commissioner for Competition Margrethe Vestager in his office. Another topic which the two officials discussed was the taxation of digital enterprises.