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Socialists Submit Bill on Making Minimum Wage Tax-exempt

MTI-Hungary Today 2021.04.20.

The opposition Socialist Party (MSZP) on Tuesday said it has submitted a bill to parliament that would make the minimum wage tax-exempt and reduce the income tax for low earners.

Under the proposal, minimum wage earners would be eligible for a tax credit equal to the 15 percent personal income tax, Imre Komjáthi, the party’s deputy leader, said on Facebook. The tax credit would decrease for each higher wage bracket up to the median monthly wage of 321,000 forints (EUR 888) before tax, he said.

The measures would help some 2.3 million people earning less than the median wage, Komjáthi said.

He said Hungary had the lowest minimum wage of the Visegrad Group countries, adding that the Hungarian minimum wage also had several taxes totalling over 30 percent levied on it.

How Much Do Hungarians Earn? More Realistic Data Revealed by Central Statistical Office
How Much Do Hungarians Earn? More Realistic Data Revealed by Central Statistical Office

The Central Statistical Office (KSH) published the data of monthly median wages in Hungary for the past two years. The median wage has been a shortfall in statistics for a very long time, however, the statistical office released a more detailed series of data connected to the indicator. What can be concluded from this is […]Continue reading

Komjáthi said the push to make the minimum wage tax-exempt would be a key element of his party’s upcoming opposition primary campaign.

featured image via Imre Komjáthi’s Facebook page