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Bill would reduce mining tax on ‘unconventionalʼ hydrocarbon extraction

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A bill drafted by the National Development Ministry would reduce the mining tax for hydrocarbons that can be extracted with "unconventional and special processes" from 12% to 2%, Hungarian news agency MTI reported late yesterday.

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 draft of the bill posted on the governmentʼs website.

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