Hungarian Economy Minister Mihaly Varga attends an interview with Reuters in Budapest, Hungary, May 31, 2016. REUTERS/Laszlo Balogh
BUDAPEST (Reuters) - Hungary plans to cut its average payroll taxes to levels in the neighbouring Slovakia and Czech Republic in five to six years to boost competitiveness, Economy Minister Mihaly Varga said on Wednesday.
Varga did not give a number for the cut the government was considering. Comparisons based on figures from the Organisation for Economic Co-operation and Development (OECD) suggested a reduction of about 7 percent.
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