"Despite the Hungarian government trumpeting a turnaround in the economy of late and low budget deficit figures of the past two years, Mihaly Varga, the new pragmatic finance minister, seems to believe discretion is the better part of valour: with tax revenues looking somewhat anaemic this year, he announced a mini-package of tax increases on Monday to keep the deficit on track.
First and foremost, the measures include the financial transaction tax (FTT), where the rate on electronic transactions will rise from an innocuous sounding 0.2 per cent to 0.3 per cent, although for anyone seeking to actually get hold of their dosh – hello tourists! – the rate on cash withdrawals will double, from 0.3 per cent to 0.6 per cent."
'via Blog this'
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