Hungary's government has unveiled what it dubs an "anti-war" action plan. The ambitious strategy, announced on Monday, aims to shore up the country's finances through a series of special taxes on banks, energy companies, and multinational firms. Prime Minister Viktor Orbán's administration is no stranger to unconventional economic measures. Once again, they've turned to their […]

The retail company Spar Hungary achieved gross sales of HUF 1,023.2 billion in 2023, 15.8% more than in the previous year, while the volume of products sold declined by about 4% year-on-year last year, the company's President and CEO, Gabriella Heiszler said at the company's annual press conference in Budapest on Wednesday. She pointed out […]

The supermarket chain Spar is to complain to the European Union about a special tax in Hungary, a Financial Times (FT) report is quoted by the Hungarian financial portal portfolio.hu. Spar has accused the Hungarian government of breaking EU law and called on Brussels to intervene to mitigate the "devastating" effects on its operations. The […]

The Hungarian pharmaceutical giant Gedeon Richter Plc. has published an extraordinary announcement on the website of the Budapest Stock Exchange that under a new government decree on the extra profit taxes, the magnitude of supplementary pharmaceutical tax payable by the company for the year 2022 is expected to be approximately HUF 28 billion. “On June […]

On the night of December 23, the Hungarian Gazette was published, full of new laws and regulations. One of them is a government decree amending the extra profit tax decree to impose a special tax on pharmaceutical manufacturers in proportion to their turnover. Another regulation increases the tax on insurance companies. The latest extra tax […]