Personal income tax revenues increased by 6%, VAT and social security contributions were up by 8%, while corporate tax revenues were 22% higher.

VAT revenues totalled 3,000 billion forints in 2014, up from 2,800 billion in the previous year, it said. A senior official of the ministry said that higher real wages, a more dynamic labour market, reduced utility prices and low inflation had all contributed to higher domestic consumption.

The introduction of online tills has also helped to reduce illegal practices and increase tax revenues, deputy state secretary Zoltán Pankucsi told the paper, adding that the government expected the positive tendency would continue

Source www.hungarymatters.hu

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