Corporate tax revenue target HUF 341 bln in next year's budget bill

Telco

The 2015 budget bill, submitted by the government to Parliament on Thursday, targets revenue from corporate tax of HUF 341.4 bln, under the HUF 358.8 bln target in this year's budget, according to news agency MTI. 

The bank levy is set to generate revenue of HUF 144.2 bln next year, practically level with the target for this year. Revenue from mining royalties is targeted at HUF 83.8 bln, over the HUF 65.0 bln target for this year.

The "Robin Hood" tax on energy suppliers is expected to bring in HUF 44.7 bln, according to the bill, down from a HUF 61.1 bln target for 2014. Revenue from a new tax on advertisements, introduced late summer, is set to reach HUF 6.0 bln next year. Among consumption-based taxes, VAT revenue is targeted at HUF 3,171.7 bln, up from the HUF 3,014.1 bln target for this year. The tax on telecommunications is expected to generate HUF 69.2 bln, up from HUF 57.0 bln targeted this year.

Telecom tax proceeds include about HUF 25 bln of revenue from the extension of the telecom tax to internet traffic. Revenue from the financial transactions duty will slip to HUF 262.2 bln from a targeted HUF 269.4 bln in 2014. Revenue from personal income tax is expected to increase to HUF 1,634.7 bln from a targeted HUF 1,550.0 bln this year. Revenue from excise duties is set to drop to HUF 913.5 bln from HUF 931.9 bln.

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