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29th March, 2019

Transaction tax cut to be cancelled

Plans to place a cap on the annual amount of financial transaction tax paid by individuals have been scrapped, business website Menedzs¬ment Fórum reports.

An amendment to the bill, filed by Fidesz MP Erik Bánki, chairman of Parliament’s finance committee, cancels this initiative.

The tax is 0.3% on bank transfers of more than Ft 20,000 to a maximum of Ft 6,000 per transaction, to be paid by the bank.

The bill would have placed a ceiling of an annual Ft 800 on these transactions.

Bánki usually files motions that are in line with the government’s will, the website adds.

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

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