Bloomberg News

Hungary Lifts Hochtief’s Local Tax Exemption, Origo Reports

March 27, 2012

Hungarian lawmakers lifted a local tax exemption for Budapest Airport Zrt., in which Hochtief AG (HOT) holds a 50 percent stake, news website Origo reported without citing anyone.

The motion, which will force the airport operator to pay at least 1 billion forint ($4.6 million) in property taxes, was supported by Prime Minister Viktor Orban and the leadership of the ruling Fidesz party, according to Origo.

To contact the reporter on this story: Edith Balazs in Budapest at ebalazs1@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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