Varga: Sectoral taxes stay; banks may get break

History

The Hungarian government will reject the European Union’s recommendations to phase out sector-specific taxes, Economy Minister Mihály Varga announced today. But he did suggest there may be a reduction on the bank tax soon, in order to take the sting out of the HUF billions in pay outs that banks are expecting due to the FX loan relief package.

Reflecting on the Saturday statement by Antal Rogán, leader of Fidesz MP’s in the parliament, Varga said he is “surprised to hear a number of colleagues discussing how much less foreign currency debtors will be paying per month after the next move. Only rudimentary calculations have been made so far."

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