June 4th, 2012

Tax Cut Spurs Productive Investment

We were surprised this weekend to see a shiny, $250,000 McLaren MP4-12C parked on Andrássy út over the weekend (in front of the Apple store, naturally) and then downright stunned to see that it had actually been registered in Hungary. But a friend just reminded us that due to changes in the tax code aimed at discouraging people from registering expensive vehicles in neighboring countries, the maximum registration tax is HUF 400,000, a trifle if the car you’re buying costs around 10 years’ salary for the average well-paid Budapest office drone. Progress!

 
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