Bloomberg Tax
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Tax
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

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

© 2020 Bloomberg L.P. All rights reserved. Used with permission.