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HUNGARY: Hungary to Raise Special Taxes, Introduce New Tax on Banks' FX Trades

HUNGARY

Hungary will introduce new taxes on its financial and energy sector as well as on foreign-owned companies, Cabinet Minister Gergely Gulyas said in a press briefing following a government meeting Sunday. Comments below provided by Bloomberg:
•    New defense tax to be paid by "banks, multi-national companies and energy companies."
•    Banks will need to pay special taxes in full in 2024.
•    Hungary will also raise transaction tax on banks, introduce a new tax on banks’ FX trades.
•    Energy and foreign-owned companies’ special tax will not be lowered this year.

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