Hungary’s government reportedly considering new retail sector tax

The government was reportedly considering a new tax on retail stores, the news portal Index reported. The new tax reportedly targeted foreign-owned chains and will be levied on supermarket parking spaces. The proposal was reportedly submitted by economy minister Mihaly Varga and deputy PM Janos Lazar. The prospective new tax was estimated to generate HUF20bn of budget revenues per year.

The PM Office official response did not deny the measure. It just said that the government concentrates on trade policy and regulatory issues in order to strengthen domestic players in the industry. The government has still not decided on any regulatory proposal, the statement read. It expressed determination to defend against potential infringement procedures launched by the EC on such prospective measures to strengthen the domestic companies.

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