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 szak-ma.hu 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 ebalazs1@bloomberg.net

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


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