Hungary To Lower Bank Tax
The Hungarian Government is to submit a legislative amendment to Parliament for its approval that would lower the bank tax.
The amendment was drafted based on discussions between Hungary and the European Bank of Reconstruction and Development (EBRD) in February 2015. In a memorandum of understanding signed after these talks concluded, the two parties agreed to a substantial reduction in the bank tax during the period 2016-19.
The Government said that the decision is in recognition that, with steps taken to address the issue of foreign currency loans and with the economy showing signs of a sustained recovery, the time has come to gradually reduce the tax burden on the banking sector in order to provide a stable environment and to improve the business climate.
Source: TaxNews – Hungary To Lower Bank Tax
