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Demján: Sunday closure gap to be filled with taxes

Banking

At a press conference today to promote a referendum designed to overturn the Sunday closings law, Sándor Demján, one of the wealthiest men in Hungary, said that restrictions on Sunday store openings will produce a HUF 200-250 bln shortfall in government budget revenue.

Demján (pictured), the head of the VOSZ business association, said that the government would seek to close the budget shortfall with new taxes, like the new road toll system and the recently approved tax on solar panels.

Along with giving details about the initiative to call a referendum, Demján said that retail sales generate five times as much budget revenue as industrial production. He maintained that closing most stores on Sundays would slash government revenue from VAT and payroll taxes.

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