Bloomberg News

Hungary to Consider Exemptions From Transaction Tax, Rogan Says

May 22, 2012

Hungary’s Fidesz party is willing to consider granting exemptions from a proposed tax on financial transactions, said Antal Rogan, the next parliamentary leader of the ruling party.

The government may accept amendments to spare the treasuries of companies with “substantial export activities” from the levy, Rogan told lawmakers in Budapest today. The ruling party insists that banks must shoulder much of the burden from the tax, Rogan said, adding that parliament will have “almost a month” to debate and approve the draft.

“The subject of the tax is the company, which in the present case is the bank, and not the person using the service,” Rogan said.

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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