Economy Minister Mihály Varga announcing new tax hikes | Imre Földi / MTI

New tax hikes from the Hungarian government

June 17, 2013

The Hungarian government has announced additional fiscal adjustment measures to avoid the reopening of the excessive deficit procedure (EDP) against the country once EU finance ministers agree to abrogate the EDP for Hungary.

As reports, the transaction duty on cash payments will be raised to 0.6% from 0.3% and the cap will be abolished. Money transfer between accounts will carry a 0.3% FTT, up from 0.2%, but the upper limit will be retained here.

The website quotes the Minister as saying that the rate of the telecom tax will be raised to HUF 3 per minute and per SMS/MMS and the cap for businesses will be doubled to HUF 5,000.

The mining fee will be upped to 16% from 12%. Another measure is that the 6% healthcare contribution will be payable on interest and capital gains.


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