ADVERTISEMENT

OTP to pay HUF 78.3 bln windfall tax in 2022

Banking

Image by Adriana Iacob / Shutterstock.com

OTP Bank, Hungary's biggest commercial lender, will pay HUF 78.3 billion this year on a tax on "extra profit" the government is levying on the banking sector, according to a report by state news wire MTI.

In an announcement posted on the website of the Budapest Stock Exchange on Wednesday, OTP said it will book the tax payment in a lump sum in the second quarter.

The accounting treatment of the windfall tax payable in 2023 is "still under discussion", it added.

The windfall tax, one of a number the government is levying on certain sectors, is in place in 2022 and 2023.

Ragweed Concentration Rising to Symptom-causing Levels Figures

Ragweed Concentration Rising to Symptom-causing Levels

EU's New Biometric Entry System Postponed Until November EU

EU's New Biometric Entry System Postponed Until November

Hungaroring Upgrade Set to Finish by Spring of 2026 Construction

Hungaroring Upgrade Set to Finish by Spring of 2026

Kimpton Bem Budapest Hotel Opens Hotels

Kimpton Bem Budapest Hotel Opens

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.