Hungary seeks EU permission to cut tax on fuels

Banking

Hungary has asked the European Commission for permission to cut the excise tax on fuels after a sharp rise in fuel prices in the past months, a Finance Ministry spokesman said on Friday.

“We have turned to Brussels for a cut,” Ferenc Pichler told Reuters. The excise tax is Ft 85 ($0.548) on one liter of petrol and Ft 103.5 on diesel.

European Union Tax Commissioner László Kovács said the Commission had received Hungary’s request and would decide on the issue next week, however, approval looked unlikely. “The body (the Commission) still does not agree with a tax cut,” Kovács told Hungarian national news agency MTI. (Reuters)

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