Hungary to levy Robin Hood tax on energy firms
The Hungarian government's planned Robin Hood tax will be levied on companies who generate more than half of their revenue from energy sales, Finance Minister János Veres said.
The tax is expected to generate Ft 30 billion of revenue in 2009, Veres said. This year, the government will take Ft 3 billion out of budget reserves to compensate homeowners for high district heating charges, he added.
On Friday, Veres said the government would submit a proposal to Parliament to introduce an 8% profit-based Robin Hood tax, the proceeds of which would be used to set up a compensation fund for homeowners with district heating. Homeowners whose annual income does not exceed Ft 3.4 million will be offered Ft 100,000 for home improvements.
The government will submit the proposal on support for homeowners with district heating to Parliament on Monday, Veres said.
The Robin Hood tax will be in place from the beginning of 2009 until the end of 2010, MTI learnt. (MTI – Econews)
ADVERTISEMENT
Gloster H1 Revenue Climbs 24%
V4 Agri Officials: WTO Case Over Grain Bans 'Unfortunate'
AutoWallis Green Investment Project Value Reaches HUF 3 bln
Budapest Muni Council Clears Rác Baths Renovation
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.
