Bill would exempt interest on retail govʼt securities from tax
Ministry of Finance
A bill submitted to Parliament by Minister of Finance Mihály Varga on Tuesday would exempt retail investors from tax on interest income earned on government securities, state news wire MTI reported. At present, the tax rate on interest income is 15%.
Minister of Finance Mihály Varga
The exemption would apply to retail government securities issued from June 1, 2019, according to the bill.
Varga said that "increasing sales of government securities to households is an important economic policy goal" in the justification of the bill.
Hungaryʼs Government Debt Management Agency (ÁKK) targets an HUF 800 billion increase in the stock of securities targeted at retail investors this year.
The bill would also broaden the activities of home savings banks to include sales of government securities. Hungarian lawmakers voted to phase out state subsidies on home savings bank deposits last year, MTI recalled.
Policymakers Cut Central Bank Base Rate by 50 bp to 7.75%
Bulgaria's Household Income, Spending Rise 20% in 2023
Spar Magyarország Revenue Climbs Close to 16% in 2023
Hungary Launches HUF 15 bln Tourism Sector Support Program
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.
