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Opposition Együtt-PM to take ad tax to EC

Banking

The opposition political alliance Együtt-PM (E-PM) announced today that it will turn to the European Commision to oppose the new advertising tax, which was proposed by the ruling Fides party and passed by Parliament yesterday.

E-PM also asked that János Áder, President of Hungary, to refrain from signing the law, which the alliance says is a “punishment” for “successful” companies.

Opponents of the law say the new tax on advertising revenue is being used to intimidate media outlets who criticise the government, specifically RTL Klub, the nation’s largest TV broadcaster and the only outlet that must pay 40% under the graduated tax.

Viktor Szigetvári, co-chariman of E-PM, said that the tax violates EU laws banning taxes that are aimed at or discriminate against a certain group or individual.

According to E-PM the amendment to the law that allows companies with losses from earlier years to reduce their tax base clearly favors Fidesz-friendly broadcaster TV2. 

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