Industry associations dispute ad tax

Banking

Industry associations are calling for additional consultations on the advertising tax, and have asked the government to consider abolishing the tax altogether given its harmful impact on the economy, the Hungarian Advertising Association told news agency MTI yesterday. 

According to a new bill published on Tuesday the upper bracket of the advertisement tax would be 5.3%, while media companies with revenue of less than HUF 100 mln would not have to pay the advertisement tax.

The association along with nine other organizations, believe that the planned amendment to the ad tax would curb growth opportunities for smaller businesses and place them at a disadvantage compared to larger companies and global operators. The association still believes that the introduction of the single-bracket tax would increase consumer prices and thereby inflation, leading to lay-offs and the deepening of the competitive disadvantage against global operators.

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