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The tax wedge for the average single worker in Hungary decreased by 1.2 percentage points from 46.2 in 2017 to 45.0 in 2018. The OECD average tax wedge in 2018 was 36.1 (2017, 36.2).
The Hungarian economy is in the midst of a strong recovery, driven by high levels of employment that are boosting wages, consumer confidence and domestic demand. Policy should aim to prolong the economic expansion, ensure that growth is greener and that the benefits are shared amongst all Hungarians, according to a new report from the OECD.
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The tax-to-GDP ratio in Hungary decreased by 1.5 percentage points, from 39.2% in 2016 to 37.7% in 2017. The corresponding figures for the OECD average were an increase of 0.2 percentage points from 34.0% to 34.2% over the same period.
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The digital revolution, globalisation and demographic changes are transforming labour markets at a time when policy makers are also struggling with slow productivity and wage growth and high levels of income inequality. The new OECD Jobs Strategy provides a comprehensive framework and policy recommendations to help countries address these challenges.
These country profiles focus on countries' domestic legislation regarding key transfer pricing principles, including the arm's length principle, transfer pricing methods, comparability analysis, intangible property, intra-group services, cost contribution agreements, transfer pricing documentation, administrative approaches to avoiding and resolving disputes, safe harbours and other implementation measures.
Hungary has made progress in greening its economy and cutting emissions, but it needs to speed up efforts to replace fossil fuels with renewable energy sources, improve energy efficiency in buildings and promote sustainable transport, according to a new OECD Review.
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Agricultural research fellowship award grants and international conferences sponsorships of the Co-operative Research Programme (CRP): Biological Resource Management for Sustainable Agricultural Systems; advice for applicants for funding.