Bloomberg News

Hungary May Include Cap in Transaction Tax, Balog Tells Szak-Ma

June 26, 2012

Hungary’s planned tax on financial transactions may include a “protective” ceiling or exemptions on certain transactions where the levy would be too high, news website reported, citing Adam Balog, deputy state secretary at the Economy Ministry.

The government intends to maintain the so-called Robin Hood tax on energy and utility companies in the long-term, Balog said, adding that the tax rate will increase to 11 percent from 8 percent, according to the portal.

To contact the reporter on this story: Edith Balazs in Budapest at

To contact the editor responsible for this story: James M. Gomez at

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