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Hungarian Tax Plans: Austrian Banks Annoyed
Politics ♦
Published: October 18, 2012; 00:21 ♦ (Vindobona)
Because of the pressing need to reduce the budget deficit, Hungary´s government decided not to lower the bank tax. Moreover, the financial transaction tax will be doubled.
Hungarian Tax Plans: Austrian Banks Annoyed / Picture: © Vindobona.org
Austrian banks feel bypassed. At the beginning of the year, Hungary´s government planned to replace the bank tax by a financial transaction tax gradually. Now, Hungary must sharpen its austerity measures further. As a result, the initial promises cannot be kept. The bank tax remains.
Hungary is urged to reduce the budget deficit below 3.0% of GDP. First, IMF wants Hungary to put…
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