Govt tax measures to bring in extra HUF 10 bln this year, HUF 50-60 bln in 2012

Banking

Tax measures submitted by the government to Parliament on Monday are expected to bring in an additional HUF 10 billion in budget revenue this year and HUF 50 billion-60 billion next year, Adam Balog, deputy state secretary of the national economy ministry told Parliament's Audit and Budget Committee on Monday.

The government wants to raise taxes on luxury products, such as taxes on gambling, alcohol and cigarettes, Balog said.

National Economy Minister György Matolcsy announced on Tuesday that Hungary's government would fill a HUF 100 billion "hole" in this year's budget because of lower than expected growth by collecting more tax and freezing public procurements, among other measures.

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