Varga excludes any consideration of deposit tax

Conferences

The Hungarian government has never considered and is not at present considering levying any kind of tax on deposits, National Economy Minister Mihály Varga said in an interview in daily Magyar Nemzet. Varga reiterated that the government has no such intention after an agreement was reached on Monday on a bailout for Cyprus that involves the use of uninsured deposits to shore up banking sector losses. "We believe it is necessary that the livelihood of families not be endangered in times of crisis," Varga said. We think it is inappropriate for households to pay for damages caused by banks' bad decisions, he added. "In [Hungary], household savings cannot be defined as a tax base," he said. Deposits provide the resources for lending which can create jobs, he added.

ADVERTISEMENT

40% of CEE businesses fear bankruptcies without bailouts Analysis

40% of CEE businesses fear bankruptcies without bailouts

General elections to be held on April 3 Elections

General elections to be held on April 3

Microsoft Hungary head Chris Mattheisen discusses the Vatica... Podcasts

Microsoft Hungary head Chris Mattheisen discusses the Vatica...

Most districts not planning mandatory vaccination at kinderg... City

Most districts not planning mandatory vaccination at kinderg...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.