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Hungary May Scrap Flat Tax This Year for Aid, Nepszabadsag Says

Hungary may need to abolish its “flat” income tax system as early as during the course of this year to satisfy demands by the International Monetary Fund in return for a bailout, Nepszabadsag reported, citing unidentified government officials.

It is becoming “increasingly” certain that the 16-percent income tax rate will be changed to help obtain the international aid, the newspaper said.

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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