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Taxation In Hungary
Taxation in Hungary is levied by both national and local governments. Tax revenue in Hungary stood at 38.4% of GDP in 2017. The most important revenue sources include the income tax, Social security, corporate tax and the value added tax, which are all applied at the national level. Among the total tax income the ratio of local taxes is solely 5% while the EU average is 30%. Income tax in Hungary is levied at a flat rate of 15%. A tax allowance is given through a family allowance ( hu, családi adókedvezmény), which is equal to the allowance multiplied by the number of "beneficiary dependent children". For one or two children the allowance is HUF 62,500 per child, for three or more HUF 206,250 per child. The allowance can be split between spouses or life partners. The standard rate of value added tax is 27% as of January 2012 — the highest in the European Union. There is a reduced rate of 5% for most medicines and some food products, and a reduced rate of 18% for interne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deloitte
Deloitte Touche Tohmatsu Limited (), commonly referred to as Deloitte, is an international professional services network headquartered in London, England. Deloitte is the largest professional services network by revenue and number of professionals in the world and is considered one of the Big Four accounting firms along with EY (Ernst & Young), KPMG and PricewaterhouseCoopers (PWC). The firm was founded by William Welch Deloitte in London in 1845 and expanded into the United States in 1890. It merged with Haskins & Sells to form Deloitte Haskins & Sells in 1972 and with Touche Ross in the US to form Deloitte & Touche in 1989. In 1993, the international firm was renamed Deloitte Touche Tohmatsu, later abbreviated to Deloitte. In 2002, Arthur Andersen's practice in the UK as well as several of that firm's practices in Europe and North and South America agreed to merge with Deloitte. Subsequent acquisitions have included Monitor Group, a large strategy consulting business, in Janu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Tax
An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income. The tax rate may increase as taxable income increases (referred to as graduated or progressive tax rates). The tax imposed on companies is usually known as corporate tax and is commonly levied at a flat rate. Individual income is often taxed at progressive rates where the tax rate applied to each additional unit of income increases (e.g., the first $10,000 of income taxed at 0%, the next $10,000 taxed at 1%, etc.). Most jurisdictions exempt local charitable organizations from tax. Income from investments may be taxed at different (generally lower) rates than other types of income. Credits of various sorts may be allowed that reduce tax. Some jurisdicti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Austro-Hungarian Compromise Of 1867
The Austro-Hungarian Compromise of 1867 (german: Ausgleich, hu, Kiegyezés) established the dual monarchy of Austria-Hungary. The Compromise only partially re-established the former pre-1848 sovereignty and status of the Kingdom of Hungary, being separate from, but no longer subject to, the Austrian Empire. The compromise put an end to the 18-year-long military dictatorship and absolutist rule over Hungary which Emperor Franz Joseph had instituted after the Hungarian Revolution of 1848. The territorial integrity of the Kingdom of Hungary was restored. The agreement also restored the old historic constitution of the Kingdom of Hungary. Hungarian political leaders had two main goals during the negotiations. One was to regain the traditional status (both legal and political) of the Hungarian state, which had been lost after the Hungarian Revolution of 1848. The other was to restore the series of reform laws (the so-called April Laws) of the revolutionary parliament of 1848, w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Austro-Hungarian
Austria-Hungary, often referred to as the Austro-Hungarian Empire,, the Dual Monarchy, or Austria, was a constitutional monarchy and great power in Central Europe between 1867 and 1918. It was formed with the Austro-Hungarian Compromise of 1867 in the aftermath of the Austro-Prussian War and was dissolved shortly after its defeat in the First World War. Austria-Hungary was ruled by the House of Habsburg and constituted the last phase in the constitutional evolution of the Habsburg monarchy. It was a multinational state and one of Europe's major powers at the time. Austria-Hungary was geographically the second-largest country in Europe after the Russian Empire, at and the third-most populous (after Russia and the German Empire). The Empire built up the fourth-largest machine building industry in the world, after the United States, Germany and the United Kingdom. Austria-Hungary also became the world's third-largest manufacturer and exporter of electric home appliances, el ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dhimmi
' ( ar, ذمي ', , collectively ''/'' "the people of the covenant") or () is a historical term for non-Muslims living in an Islamic state with legal protection. The word literally means "protected person", referring to the state's obligation under ''sharia'' to protect the individual's life, property, as well as freedom of religion, in exchange for loyalty to the state and payment of the '' jizya'' tax, in contrast to the ''zakat'', or obligatory alms, paid by the Muslim subjects. ''Dhimmi'' were exempt from certain duties assigned specifically to Muslims if they paid the poll tax (''jizya'') but were otherwise equal under the laws of property, contract, and obligation. Historically, dhimmi status was originally applied to Jews, Christians, and Sabians, who are considered to be "People of the Book" in Islamic theology. This status later also came to be applied to Zoroastrians, Sikhs, Hindus, Jains, and Buddhists. Jews and Christians were required to pay the ''jizyah'' wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
EU VAT Tax Rates
The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been described as a ''sui generis'' political entity (without precedent or comparison) combining the characteristics of both a federation and a confederation. Containing 5.8per cent of the world population in 2020, the EU generated a nominal gross domestic product (GDP) of around trillion in 2021, constituting approximately 18per cent of global nominal GDP. Additionally, all EU states but Bulgaria have a very high Human Development Index according to the United Nations Development Programme. Its cornerstone, the Customs Union, paved the way to establishing an internal single market based on standardised legal framework and legislation that applies in all member states in those matters, and only those matters, where the states have agreed to act ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
