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.

ADVERTISEMENT

Czech economic confidence weakens in September Analysis

Czech economic confidence weakens in September

Parl't extends pandemic legal provisions Parliament

Parl't extends pandemic legal provisions

Energy Efficiency: End-users, Energy Traders and Other Stake... Inside View

Energy Efficiency: End-users, Energy Traders and Other Stake...

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.