Are you sure?

HUF 4.4bn in offshore assets transferred during first months of amnesty

About HUF 4.4 billion of assets was transferred to Hungarian banks from offshore accounts during the first two months of an amnesty, daily Magyar Nemzet said on Saturday, citing data from the National Tax and Customs Office (NAV).

Under legislation approved last year, private individuals may pay a preferential 10% tax on assets from offshore companies repatriated by the end of 2011. Financial market regulator PSZAF designated the ten domestic banks to which the assets may be transferred at the end of February.