Bloomberg News

Hungary May End Most Industry Taxes From 2013, Portfolio.hu Says

October 17, 2011

Oct. 17 (Bloomberg) -- Hungary may no longer levy extraordinary taxes on the energy, retail and telecommunication industries after 2012 while halving a similar tax on the financial industry, Portfolio.hu reported citing revenue forecasts included in next year’s budget bill.

The government sees revenue from extraordinary levies on the energy, retail and telecommunication industries falling to 1 billion forint ($4.7 million) in 2013 from 155 billion forint in 2012 and to zero from 2014, the financial news website said. Revenue from the financial industry tax is forecast to drop to 90 billion forint from 2013, from 187 billion forint in 2012.

To contact the editor responsible for this story: Zoltan Simon at zsimon@bloomberg.net


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