Hungary to Make Lenders’ Virus Levy Deductible From Bank Tax

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)

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Marton Eder

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