Amendment to 2012 budget bill freezes HUF 300bn of reserves till end-Q3

Telco

An amendment to the 2012 budget bill has been submitted to Parliament that freezes HUF 300bn of reserves until September 30, 2012, chairman of Parliament’s Economy and IT Committee Antal Rogan said at a conference on Wednesday.

Half of the reserves will come from the two percentage point increase in the main VAT rate to 27%, Mr Rogan said at the Infoter conference in Balatonfured.

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