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DT “frustrated” by crisis taxes

Deutsche Telekom is frustrated by Hungary's new corporate taxes, which risk curbing corporate investment and growth in the country, the German telecom firm's Chief Financial Officer Timotheus Höttges said.

“We have to consider what the consequences are for our business,” and how the taxes impact investment in the region, Höttges said at a financial and industry conference in Germany.

Höttges said Deutsche Telekom was satisfied with its Hungarian market and sees an upswing in economic activity in Central and Eastern Europe in 2011.

Early this month thirteen leading multinational firms operating in Hungary, including Deutsche Telekom, appealed to the European Union to impose sanctions on Hungary for levying an extra tax on foreign-owned companies in a move the petitioners described as anti-competitive. (BBJ)