Hungarian government submits bill proposal to lower bank levy
Hungary’s National Economy Minister Mihály Varga yesterday submitted a bill to Parliament that aims to reduce the extraordinary levy on the banking sector, according to reports.
The proposal is designed to keep the rate on total assets under HUF 50 billion unchanged at 0.15% in 2017 and 2018, but it would reduce the amount for total assets over the threshold to 0.21% from 0.31%. The bill would also stipulate that the bank levy be calculated based on banksʼ adjusted total assets in the previous two years, rather than on adjusted total assets from 2009, Hungarian news agency MTI reported.
The Hungarian government said earlier that it would lower the extraordinary bank levy, which was introduced as a temporary measure, in exchange for elevated lending by banks operating in the country.
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.