Lázár puts ad tax at 5-10%

Banking

Cabinet Chief János Lázár expects the modified advertising tax to reach 5-10%, as opposed to earlier press reports speculating that the ad tax would not exceed 3-5%, Hungarian commercial channel ATV cited Lázár late yesterday.

According to ATV, the lawmakers have not yet decided whether to introduce a unified or progressive tax, however, Lázár said he prefers a progressive measure, as the “main aim of the Hungarian government is to protect small businesses”.

Although the cabinet chief did not discuss the advertising tax at the committee meeting, he told ATV journalists afterwards that he thinks the “government will propose a tax rate between 5-10%”.

He also noted that the highest advertising taxes in the European Union are currently capped at 5%, but added that the European Commission has asked Hungary to “find a reasonable measure” and should it be a progressive one, differences between brackets must be fair.

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.

Support the BBJ

Finance