Prosecutor investigates banks that provided fx loans on complaint of tax fraud
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.
ADVERTISEMENT
Number of Liquidations Increasing Rapidly
Varga Meets With Chinese Business Leaders
AutoWallis May Increase Planned Sales Due to Strong Performa...
Nearly 60% of Rural Guests Night in Spa Towns
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
