Hungary: New Tax for Banks

Politics ♦ Published: June 27, 2013; 15:59 ♦ (Vindobona)

According to a legislative proposal by Economy Minister Varga, banks would have to face a further burden of around € 250m.

Hungary: New Tax for Banks / Picture: © Wikipedia / Végh Tibor

The Hungarian government wants to compensate for the loss in revenues from the transaction tax by means of a new burden for the financing institutes – with the exception of the Hungarian Treasury. The legislative proposal, which is a single payment, was submitted to the parliament yesterday by Economy Minister Mihaly Varga. The total of this payment is supposed to come at 208 percent…