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Hungary to have the lowest corporate tax in the EU

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Hungary to have the lowest corporate tax in the EU

According to the new taxation plans accepted by the Hungarian Ministry of Economics for 2017, corporate tax will be lowered to only 9%  starting on the 1st of January 2017. This means that Hungary will have the lowest corporate tax in the European Union and the Schengen zone. The corporate tax decrease will affect small and medium companies as well as larger ones: it will apply to all Hungarian companies irrespective of how big their profit is.

Economic growth

The goal of the Hungarian government is an economic growth of 3-5% in 2017.
The new, lowered corporate tax can help achieve this goal, as it can boost existing businesses, and help form more new companies in Hungary. This can help make Hungary a fertile ground for new business opportunities.

Further advantages of Hungary

The low corporate tax is far from being the only feature of Hungary making it an attractive country for foreign investors and businessmen. Forming a company in Hungary only takes 4-5 business days, and the new company automatically receives an EU VAT number right from the start, giving you immediate access to the single European market. Hungary is a member of the Schengen zone, so a business visa or residence permit for Hungary allows you to freely travel across most of Europe. Located in the geographical center of Europe, Hungary has a well-developed infrastructure, as well as freight and travel connections by rail, road, air and water. Finally, Hungary has no citizenship-based restrictions on who can start a company or open a bank account, so businessmen from all nationalities can benefit from forming a company in the country with the lowest corporate tax in the EU.

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Last Updated 28.11.2019

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