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Hungary to Make Lenders’ Virus Levy Deductible From Bank Tax

April 9, 2020, 9:43 AM

Hungary’s banks will pay 55b forint extra tax in three installments this year, based on a 0.19% rate on total assets, Finance Minister Mihaly Varga says in interview.

  • Lenders will be able to deduct extra tax from existing bank levy over next 5 years, banks in agreement with government over tax plan
  • Sees about half of borrowers using government-initiated moratorium on debt repayments
  • NOTE: Hungary Burdens Banks, Political Parties With Virus Costs (1)

To contact the reporter on this story:
Zoltan Simon in Budapest at zsimon@bloomberg.net

To contact the editors responsible for this story:
Alex Nicholson at anicholson6@bloomberg.net

Marton Eder

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