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Banks must pay first installment of bank tax by Thursday

Financial institutions registered in Hungary must pay the first installment of Hungary's new bank-tax by Thursday, while the second and final installment must be paid by December 10, business daily Világgazdaság affirmed.

The government expects HUF 90-100 billion in revenue from the first installment. The total sum of HUF 200 billion was approved by parliament before the summer recess.

The largest retail bank in Hungary, OTP Bank, will pay HUF 36 billion in the new bank-tax this year, while K&H will pay HUF 16.2 billion, MKB HUF 13.76 billion and Erste Bank HUF 12.69 billion. (MTI – Econews)