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Ad industry insiders critical of sectoral tax

Telco

The recently introduced tax on advertisements distorts competition, inhibits development and innovation, and negatively impacts the volume and quality of content services, the deputy head of the Hungarian Advertising Association (MRSZ) said at an event marking the professional body's 40th anniversary yesterday. 

Péter Hivatal said revenue of the ad market's biggest players had contracted more than 15% between 2008 and 2013, citing a survey conducted by consultancy EY. A good number of the companies were loss-making at operating level, he added. MRSZ chairman Zsolt Urbán noted every HUF 10 spent on advertising adds HUF 47 to the economy, according to a study published in 2013.

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