Banking association supports changes to bank levy rules

Telco

The Hungarian Banking Association supports the reduction of the bank levy, considering it vital for economic growth and has accepted the (proposed) amount of the levy for 2016, Levente Kovács, chief secretary of the association, told Hungarian news agency MTI today.

Kovács confirmed that the National Economy Ministry (NGM) had several consultations with the Association concerning the bank levy and the Association was aware of the changes NGM submitted to Parliament on Thursday about the legislative proposal amending the levy.

According to Kovács: “the consistent reduction of the burdens of banks serves the goal of the Hungarian banking sector regaining its competitiveness in the region”.

NGM is proposing that for banks with total assets above HUF 50 bln the bank levy should drop from 0.53% to 0.24%, lower than the initial proposal of 0.31% that the ministry made in November. For banks with total assets under HUF 50 bln the bank levy should still remain at 0.15%. 2009 will be used as the benchmark year for total assets in all cases in 2016.

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

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.