10 Most Conservative Countries in the World and their Economic Development

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3. Hungary

Personal Income Tax Rate (2022): 20%

Corporate Tax Rate (2022): 9%

Annual Social Assistance Spending as a percentage of GDP (2016-2017): 1.83%

Insider Monkey rating: 0.154 out of 1

Hungary reports a GDP per capita of $43,600 as of 2023, according to the IMF. Hungary is ranked 3rd on our list with a low corporate tax rate of 9%. According to the World Bank, Hungary reported an annual social spending of 1.83% from 2016 to 2017.

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