Hungary to cut special tax on banks further in 2017

MBH Jelzalogbank Nyrt

04/05/2016 09:38

BUDAPEST, May 4 (Reuters) - Hungary will further cut the tax 
burden on the country's banks next year according to a draft tax 
bill submitted by the government to parliament late on Tuesday. 
    The document shows that as of Jan. 1, 2017, the special tax 
on banks will be levied on banks' balance sheet total of two 
years preceding the tax year instead of their end-2009 balance 
sheet total. 
    The tax rate will be set at 0.15 percent for up to 50 
billion forints of the tax base, and at 0.21 percent on the 
amount above -- down from 0.24 percent this year. 
    Economy Minister Mihaly Varga has said the government would 
cut banks' taxes by 20 billion forints ($73.53 million) for the 
sector as a whole next year. 
($1 = 272 forints) 
 
 (Reporting by Krisztina Than and Gergely Szakacs) 
 ((krisztina.than@thomsonreuters.com; +36 1 327 4745; Reuters 
Messaging: krisztina.than.thomsonreuters.com@reuters.net)) 
 
Keywords: HUNGARY TAX/BANKS