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OECD Secretary-General Angel Gurría welcomed today Hungary’s steps to strengthen international tax co-operation after it became the 61st signatory to the Multilateral Convention on Mutual Administrative Assistance in Tax Matters.
Despite a deep recession in 2009 and weak growth in subsequent years, Hungary’s fiscal position compares favourably with many other OECD countries.
The average tax and social security burden on employment incomes increased in 26 out of 34 OECD countries in 2011 according to the new OECD Taxing Wages publication. Tax payers in Ireland, Luxembourg, Portugal and the Slovak Republic were among those hit with the largest increases.
Reducing the extent of inactivity and promoting labour supply is essential to foster labour market outcomes in Hungary in the medium term.
Hungarian debt level has steadily increased since 2001, with the debt-to-GDP ratio reaching about 84% at end-2011.
Using an estimated DSGE model for Hungary, the paper identifies the possible non-Keynesian channels through which a fiscal consolidation may manifest as expansionary.
As part of its ongoing work on the mutual agreement procedure (MAP) under tax treaties, the OECD makes available to the public annual statistics on the MAP caseloads of member countries and of certain non-OECD economies. MAP statistics have now been released for 2010.
Starting in 2006, the OECD has compiled annual statistics on the mutual agreement procedure (MAP) caseloads of all its member countries and of non-OECD economies that agree to provide such statistics. MAP statistics for 2006-2010 are now available.
As part of its ongoing work on the mutual agreement procedure (MAP) under tax treaties, the OECD makes available to the public annual statistics on the MAP caseloads of member countries and of certain non-OECD economies. MAP statistics have now been released for 2008 and 2009.
Hungary has faced a considerable challenge to regain credibility following persistent and high fiscal deficits. Efforts during recent years have produced substantial results. These and other points are discussed in this working paper.