Hungary Jumps ahead in World Bank Paying Taxes Ranking

Hungary moved forward to 56th place from 86th in an annual global ranking gauging ease of paying taxes compiled by consultancy PwC and the World Bank Group.

The ranking is based on four indicators: Total Tax and Contribution Rate (TTCR), time to comply, number of payments and post-filing index.

Hungary’s TTCR stood at 37.9 in the latest ranking, under the 46.1 rate for the Czech Republic, the 40.8 rate for Poland and the 49.7 rate for the Slovak Republic.

State secretary for tax affairs Norbert Izer attributed Hungary’s big improvement in the overall ranking to the government’s tax reduction policy, measures to ease the administrative burden of paying taxes and more efficient oversight by the tax authority.