Earlier this week, the government announced tax hikes on banks and said that a windfall tax on banks and retailers would be extended beyond 2024, but it decided to scrap the windfall taxes on airlines.
"The windfall tax on banks is justified," Nagy said at a press briefing yesterday, according to ATV. Prime Minister Viktor Orbán's government imposed windfall taxes on sectors including banks, insurers, energy, airlines, telecommunication, and pharmaceutical companies in 2022 as it tried to plug holes in the budget.
At the time, the government said it aimed to collect HUF 800 billion (USD 2.20 bln) in taxes on "extra profits" earned by firms, hitting Budapest stocks and rattling investors.
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.
