The President signed the Law on Advertising Tax

President Áder János President signed the law on advertising tax which was approved last Wednesday by the Parliament – the Parliament's website reveals.

Under the legislation passed by the Parliament last Wednesday media companies, publishers, the utilizers of outdoor advertisings, and the publishers of Internet advertisings should pay tax after their revenues from advertising and after the costs of their own advertisements in the future. The legislation defines the advertising revenue tax in different tax bands: until half a billion HUF sales revenue: 0 percent over 20 billion HUF, however, a 40 percent tax should be paid. (MTI)