Hungary’s Finance Ministry bills for autumn

Banking

Nearly 50% of the bills the government plans to put forward to the Parliament by the end of October are to be prepared by the Finance Ministry (PM), as shown in the lawmaking schedule of the government.

Some of the bills were promised for the spring session, e.g. the one aiming to bring about basic changes with public organizations, which will constitute an important part of the public finances reform packet. So will the bill about setting up the Budget Bureau. But Finance Ministry has been discouraged from submitting a reshaped version of the public finances law passed in 1992. The most significant leeway is the bill on introducing the general property tax. The amended coalition contract determines that the bill is to be put forward by September 30. However, last week Finance Minister János Veres said to daily Napi Gazdaság that there is still a lot to do to meet the provisions of the contract. The lawmaking schedule does not mention the property tax by name, it just has an entry for amendments to some tax laws. Amendments will probably include withdrawing some rebates related to income tax as well. (Napi Gazdaság)

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