Commission Requests End To Crisis Tax

摘要

The European Commission requested that Hungary abolish then‘crisis tax’ on telecoms firms that was introduced in October 2010.nA turnover tax was implemented on the telecoms, energy and retailnsectors, as well as a special financial sector tax, as part of the government’sndrive to reduce the fiscal deficit. The Hungarian governmentnhas responded to the commission, stating it has no intentionnof abolishing the tax. BMI believes the Commission will look tonbalance petitioning for the removal of the tax against the widernpromotion of austerity measures in the eurozone, and a compromisenmay be sought involving the phasing out, or reformatting of thencrisis taxes in Hungary.