Hungary's government to keep windfall taxes on banks and MOL's Ural-Brent spread

OTP Bank Nyrt.

22/11/2024 07:33

BUDAPEST, Nov 22 (Reuters) - Hungary will keep its
special taxes in place on the country's banks, retailers, and
will also maintain a 95% tax on the Ural-Brent crude spread of
oil group MOL, a government decree published late on Thursday
showed.
    Prime Minister Viktor Orban's government has used windfall
taxes on key sectors to generate revenues for the state budget
for years. The government is struggling to keep its deficit
target set for 2024 and has now maintained several of the
windfall taxes for 2025 as well, while phasing out some of these
taxes at the end of 2024.  
    
    

 (Reporting by Krisztina Than)
 ((krisztina.than@thomsonreuters.com))