World Business News

A round up of the latest news for those doing business internationally

Hungarian Minister discusses taxes for 2015 Budget

Zone(s): Hungary ¦ Sector(s): Taxation

[25 June 2014,] By Ulrika Lomas,, Brussels: The Minister in charge of the Prime Minister’s office in Hungary, János Lázár, has indicated that the Government may impose new special sectoral taxes in the 2015 Budget, and defended controversial plans for a tax on advertising. Hungary’s Parliament recently approved a Bill imposing rates of up to 40 percent on media companies’ advertising revenues. The move has prompted high-profile protests by media organizations. Businesses argue that the law introduces ruinous liabilities, and have accused the Government of using the tax to clamp down on media freedom.