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Hungary’s outgoing economy minister submits tax changes to Parliament

Banking

Hungary’s outgoing National Economy Minister György Matolcsy submitted a bill containing minor tax changes to Parliament late last week, according to state news agency MTI. The bill would exempt assets acquired on the basis of home savings bank contracts from the inheritance tax and the tax on gifts. It would lower the gaming tax for brick-and-mortar businesses on annual revenue over HUF 10 billion (€33.5 million) from 30% to 10% “in the interest of supporting high-volume investments”. It would allow energy suppliers to apply up to HUF 1.5 billion of mining royalties to their corporate tax. President János Áder has appointed Matolcsy governor of the National Bank of Hungary, it was announced in Parliament on Monday. Former central bank governor András Simor’s mandate expired on March 2.

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