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Hungary to cut corporate tax rate to EU low

Hungary is seeking to lower corporate tax to nine percent starting from 2017, the lowest rate in the European Union, Prime Minister Viktor Orban said Thursday. “Next year, corporate tax will be set at a single, equitable figure of nine percent, for small and medium enterprises, and large corporations alike,” he told reporters in Budapest. The decision to lower taxes rates was taken on Thursday after consultations with Economy Minister Mihaly Varga.

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