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Tax amnesty brings back almost HUF 100 billion from offshore accounts

Banking

A tax amnesty on assets repatriated from offshore accounts brought back almost HUF 100 billion to Hungary in 2011 and 2012, daily Magyar Nemzet said on Monday, citing data from the National Tax and Customs Authority (NAV). Under the amnesty, which wound up at the end of 2012, Hungarians paid just 10% on the repatriated assets. The paper said taxes paid on the assets came to HUF 9.67 billion.

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