Hungary imposes new taxes on banks and maintains windfall levies due to widening budget deficit.
Hungary has announced new taxes on banks and abandoned plans to cut windfall levies on targeted industries as its budget deficit widens. The deficit increased by 108 billion forints to 2.66 trillion forints ($7.3 billion) in the first six months of the year. The government will now impose a tax on banks' foreign-exchange trades and raise a transaction levy. The administration will also maintain the current levels of windfall taxes on banks, energy, and foreign-owned companies.
July 08, 2024
3 Articles