New Taxes In Hungary On Investment Funds And The Internet
- 22 Oct 2014 9:00 AM
The government will tax internet traffic from next year, Economy Minister Mihály Varga announced on Tuesday afternoon as he released details of the 2015 tax bill. The internet tax of Ft 150 per gigabyte of traffic generated by a user of the service, to a monthly maximum of Ft 700 for individual clients and Ft 5,000 for businesses.
State secretary Péter Banai told reporters that the revenue target from the internet tax is Ft 20 billion next year.
In another novelty, local governments will be authorised to impose taxes where no state tax already exists.
Népszabadság estimates that tax hikes will raise budget revenues by Ft 70 billion, including some Ft 10 billion from investment funds, and Ft 40 billion from the increased tax on fringe benefits.
Source: Hungary Around the Clock
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