Report: Advertising tax targets broadcaster RTL

Banking

The latest amendment to the advertising tax is aimed at punishing television broadcaster RTL Klub for regularly targeting Fidesz leaders, nol.hu reported, citing a member of the Fidesz party. The decision was made unanimously by Fidesz, the source added. 

The new amendment to the act on the advertising tax sets the top taxation rate at 50%. RTL Hungary is the only media company in the country that falls in the 50% bracket; all other competitors pay a much lower rate. The Advertisement Tax Act was adopted in June 2014 by the Hungarian parliament in a process that spanned nine days and involved no external consultation.

The government earlier announced that it would withdraw the advertisement tax, as it was dubbed "ineffective".

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