Bill on mining tax reduction submitted

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Ruling Fidesz MPs submitted a bill to the Hungarian Parliament that would reduce the mining tax for hydrocarbons which can be extracted with "unconventional and special processes" from 12% to 2%, Hungarian news agency MTI said today.

According to lawmakers, the reduction is justified because these energy resources would ease Hungaryʼs dependence on imported energy, and such recovery involves high production costs, according to the justification attached to the bill, the news agency noted.

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