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Financial sector companies await further details on extraordinary financial-sector tax

Financial sector companies have declined to comment on the Fidesz-led government's planned HUF 200 billion (€698.15 million) extraordinary financial-sector tax until the conclusion of upcoming talks regarding the tax with a three-member government delegation, officials from associations representing companies in the sector told MTI.

MTI talked to the officials on Wednesday evening following Minister of National Economy György Matolcsy's announced details of the tax of which the government wants to raise HUF 200 billion, including a special bank fee of HUF 13 billion which had already been part of the 2010 budget.

Affirming earlier unofficial information, Matolcsy said following a cabinet meeting on Wednesday that banks will pay HUF 120 billion of the tax based on their total assets, while insurance companies will pay HUF 36 billion based on net revenue from premiums and financial-sector companies will pay HUF 30 billion based on net revenue. Matolcsy added that the government expects to reach an agreement on the tax with financial-sector representatives within days.

Hungarian Bank Association chief advisor János Müller and Association of Hungarian Investment Fund and Asset Management Companies (Bamosz) General Secretary András Temmel told MTI on Wednesday evening that they did not want to comment on the government's proposed financial-sector tax until sector officials acquired further information regarding the tax during talks with a three-man government delegation consisting of Matolcsy, National Development Minister Tamás Fellegi and Prime Ministerial State Secretary Mihály Varga. National Savings Cooperatives Association CEO Antal Varga told MTI that representatives from savings cooperatives would hold talks with Matolcsy next week. (MTI-Econews)