The deal is part of package of agreements reached between the Hungarian Banking Association and the government on helping troubled fx borrowers, mfor.hu reported, citing the minutes of the agreement it obtained.
The special banking tax payable by the financial sector was introduced at HUF 180 billion a year in 2010. The special tax on the tax would drop to HUF 117 billion for 2013 and to HUF 76.05 billion in 2014 under the agreement, the website reported.
Hungary’s updated convergence program, submitted to the European Commission in April 15, projected harmonization of the banking tax with European Union practices from 2013 on after keeping it at an unchanged HUF 180 billion in 2012.
The government earlier planned to be halve the tax to slightly more than HUF 90 billion from the year 2012 on.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
