After the President signed the tax reform package that was proposed by the Hungarian Government on 10 June 2006 and adopted by the Parliament on 10 July 2006, the changes envisaged for the 2006 fiscal year will enter into force on 1 September 2006. The rest of the changes will take effect as from 1 January 2007. Details of the amendments not reported previously are described below.
Corporate income tax
A minimum tax on companies ("expected tax") will …