Lázár puts ad tax at 5-10%

Banking

Cabinet Chief János Lázár expects the modified advertising tax to reach 5-10%, as opposed to earlier press reports speculating that the ad tax would not exceed 3-5%, Hungarian commercial channel ATV cited Lázár late yesterday.

According to ATV, the lawmakers have not yet decided whether to introduce a unified or progressive tax, however, Lázár said he prefers a progressive measure, as the “main aim of the Hungarian government is to protect small businesses”.

Although the cabinet chief did not discuss the advertising tax at the committee meeting, he told ATV journalists afterwards that he thinks the “government will propose a tax rate between 5-10%”.

He also noted that the highest advertising taxes in the European Union are currently capped at 5%, but added that the European Commission has asked Hungary to “find a reasonable measure” and should it be a progressive one, differences between brackets must be fair.

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