Hungary to tax internet content providers

Banking

State secretary László L. Simon says Internet content providers should take their “share of the public burden” by paying taxes on advertising, Hungarian business daily Napi Gazdaság reported today. It is not the first time that Simon mentions online companies in that respect. 

The advertising tax adopted last June by the Hungarian parliament currently applies to media enterprises. Earlier János Lázár, head of the PM’s office, had said the expected HUF 8 bln revenue would be spent on schools but László L. Simon said yesterday that the tax was not planned to support a special cause and would flow directly into state coffers.

László L. Simon stressed that the advertisement revenue tax did not specifically target German-owned RTL Klub. The management of the TV channel thinks otherwise"The company generates a big profit year on year anyway; paying a few billion forints in taxes will not bring it to ruin," the politician added.

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