ADVERTISEMENT

Report: EU satisfied with ad tax change

Banking

Due to the European Commission’s relative satisfaction with the changes made by the Hungarian Parliament to the country’s advertising tax, its review of the tax could be completed shortly, Hungarian daily Népszabadság reported today.

On Wednesday, Hungarian MPs approved a bill lowering the progressive tax rate from 50% to 5.3%, on a tax base over HUF 100 mln.

German-owned RTL Group previously complained to the EU that its business in Hungary was the only one in the top bracket, putting it in a “structurally loss-making position.”

The changes were drafted "in the interest of closing a legal dispute, while weighing the possible consequences of protracted litigation", according to the justification of the bill approved by MPs.

ADVERTISEMENT

Czech economic confidence weakens in October Analysis

Czech economic confidence weakens in October

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Budapest airport shuttle bus service expanded City

Budapest airport shuttle bus service expanded

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.