Hungary has high taxes for the vast majority of tax payers, because it is not at all progressive.
Personal Income Tax is relatively low at 15%, but due to the fact it applies to every forint you earn, personal income tax is higher in Hungary until your salary reaches about 50 000 GBP (more than three times the median Hungarian salary), after which the UK is higher (noting that the median salary in the UK is already around twice what it is in Hungary).
Capital gains are taxed at the same rate of 15% with no allowance, while the UK has a 6 000 GBP allowance, and after that there's a system which has 10% for lower income tax payers, or 20-28% otherwise, meaning capital gains of less than around 25 000 GBP are taxed higher in Hungary than in the UK (assuming a higher rate tax payer, for lower rate tax payers, it's cheaper in the UK for a bit longer).
VAT is at 27% in Hungary compared to 20% in the UK.
Inheritance and gift taxes are 18% in the UK with no allowances while in the UK you pay 40% of everything above 325 000 GBP (meaning inheriting under around 600 000 GBP is more expensive in Hungary). Corporation tax is 9%, with additionally a possible 2% local tax.
In short, for the majority of tax payers, taxes are lower in the UK. The more money you make, the more favourable Hungary becomes.
Corporation tax though is indeed lower than the UK, at only 9%, compared to the UK's 19-25%.
Personal Income Tax is relatively low at 15%, but due to the fact it applies to every forint you earn, personal income tax is higher in Hungary until your salary reaches about 50 000 GBP (more than three times the median Hungarian salary), after which the UK is higher (noting that the median salary in the UK is already around twice what it is in Hungary).
Capital gains are taxed at the same rate of 15% with no allowance, while the UK has a 6 000 GBP allowance, and after that there's a system which has 10% for lower income tax payers, or 20-28% otherwise, meaning capital gains of less than around 25 000 GBP are taxed higher in Hungary than in the UK (assuming a higher rate tax payer, for lower rate tax payers, it's cheaper in the UK for a bit longer).
VAT is at 27% in Hungary compared to 20% in the UK.
Inheritance and gift taxes are 18% in the UK with no allowances while in the UK you pay 40% of everything above 325 000 GBP (meaning inheriting under around 600 000 GBP is more expensive in Hungary). Corporation tax is 9%, with additionally a possible 2% local tax.
In short, for the majority of tax payers, taxes are lower in the UK. The more money you make, the more favourable Hungary becomes.
Corporation tax though is indeed lower than the UK, at only 9%, compared to the UK's 19-25%.