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.
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