This estimate is calculated before corporate income tax and assumes full utilization of the reduction opportunity tied to increased holdings of government securities.
In 2022, the Hungarian government introduced a windfall tax targeting banks and other sectors to address budget deficits and fund specific initiatives.
In July 2024, the government announced plans to extend the windfall tax on banks beyond 2024, citing the need to support a “defense fund” amid ongoing economic challenges.
While the government plans to phase out windfall taxes on telecommunications and pharmaceutical companies starting in 2025, the tax on banks is set to continue beyond that year.
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