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Vodafone Magyarország to start talks with gov't on crisis tax

Vodafone Magyarország is starting talks with the government on a "crisis tax" that could put the company's developments at risk, the company told MTI on Tuesday.

The tax endangers third- and fourth-generation network investments that "are very important from the point of view of the country's competitiveness", Vodafone Magyarország deputy-CEO Pal Marchhart said.

Telcos are to pay the tax in 2010-2012, under legislation approved by Parliament on Monday. This year, it is expected to generate budget revenue of HUF 61 billion.

Crisis taxes were also levied on energy companies and retail chains as part of measures to keep Hungary's general government deficit on target.

The government introduced an extraordinary tax on financial sector companies in September. (MTI-Econews)