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Prosecutor investigates banks that provided fx loans on complaint of tax fraud

Issues

Hungary's General Prosecutor's Office has launched an investigation of banks that disbursed foreign currency denominated loans to determine if they committed tax fraud by failing to declare a portion of the repayments on the loans as taxable income, the daily Magyar Nemzet wrote on Tuesday

The Bank Debtors Interest Protection Organization filed the complaint with the General Prosecutor's Office against all banks that engaged in fx-lending in Hungary, the newspaper noted.

The organization says that all banks in Hungary followed the same -- what it claims incorrect -- practice in the book-keeping of the monies received back from borrowers.

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