Extra tax of 30 billion to be levied on trade companies

The Hungarian government plans to levy additional “crisis” taxes on telecom, energy and trade companies for a period of three years in order to keep the deficit target and at the same time help kickstart growth, prime minister Viktor Orbán announced on Wednesday in Pécs.

The action plan will be submitted to the Parliament on Monday. As a whole, businesses in the telecom sector will pay HUF 61 billion annually starting this year, energy companies will pay HUF 70 billion and companies in the trade sector will pay HUF 30 billion a year in the extra taxes which will be levied for three years.