EC requests Hungary change discriminatory home duty
The European Commission on Thursday said it requested Hungary amend home purchase duties that discriminate against home owners who sell property in other EU member states and buy a home in Hungary.
Home buyers in Hungary must pay a duty based on the value of their purchase. However, when the purchase is preceded by the sale of the home buyer’s previous home in Hungary, the duty is levied only if the value of the property acquired exceeds that of the one sold and only on the basis of the difference in values. This rule does not apply to home buyers, who sell their home in another EU member state and purchase a home in Hungary, which the Commission said goes against the EU tenets of the free movement of persons and freedom of establishment.
The request takes the form of a Reasoned Opinion. If Hungary fails to take satisfactory action within two months, the Commission could refer the matter to the European Court of Justice. (MTI-Econews)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.