Since coming to office in 2010, National Orban has faced a difficult struggle due to inflation that has caused the forint to plunge to record lows compared to democratic norms. With the bridge halted for an hour and the traffic arteries choked off, protesters were yelling “Withdraw it.”
Katalin Karolyi, 52, remarked, “It is improbable that it won’t be worthwhile continuing.
The reforms, which Orban’s government sent to parliament on Monday, severely restrict who is eligible for the simplified tax system, which many small businesses chose to join because of the favorable tax rate it offered.
In September, new regulations will take effect, subject parliamentary approval. The tax will generate 237 billion forints this year.
Laszlo Zara, a tax advisor said that, “This is clear a tax increase in any way you try to frame it, a very large tax increase.”
He added saying, “This will be inflationary because (small business) will not able to reach their previous income levels, forcing them to raise prices, also raising inflation.”
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