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

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Feb. 14 (Bloomberg) -- 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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