Bank accounts worth of HUF 7 bln receive tax amnesty in Q1

Telco

Some 98 new "Stability Savings Accounts" with deposits totaling HUF 7.1 bln were opened at Hungarian banks in the first quarter of 2015, daily Magyar Nemzet reported today, based on data from the National Tax and Customs Office (NAV).

The paper noted that NAV neither scrutinizes the origin of deposits made on the accounts, nor requires banks to report personal data of the account holders. The deposit rate on the accounts, which require a minimum deposit of HUF 5 mln, is benchmarked to government securities yields and may be withdrawn tax-free after five years, the paper added.

Last year, 610 such accounts were opened with deposits of a combined HUF 37.9 bln, the paper noted.

Industry Assoc Augurs Fall in Construction Output Analysis

Industry Assoc Augurs Fall in Construction Output

NVB Orders Recount of Invalid Votes in Budapest Mayor Electi... Elections

NVB Orders Recount of Invalid Votes in Budapest Mayor Electi...

Nearly 100 Hungarian SMEs Join Int'l Health Innovation Circu... Ecosystem

Nearly 100 Hungarian SMEs Join Int'l Health Innovation Circu...

Discover the Potential of Geothermal Energy at Budapest Geot... Conferences

Discover the Potential of Geothermal Energy at Budapest Geot...

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.