Hungary’s bank levy is to be reduced starting in 2016 under a memorandum of understanding (MoU) signed by the government and the European Bank of Reconstruction and Development (EBRD) on February 9.
The MoU, downloadable as an English-language PDF, did not contain any conditions for the reduction but it did specify the new lower rates for 2016 and 2017 and set June 19 as a deadline to submit the necessary legal amendments to parliament.
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