Smallest telcos exempted from crisis tax at last minute
Wednesday 11:57, October 20th, 2010
Last-minute changes to the "crisis tax" on telecommunications companies, approved by Parliament late Monday, exempt Hungary's smallest telcos while making all of the others pay more, the changes to the proposal published on the website of Parliament show.
Under the original proposal, telecommunications companies were to pay 2% on revenue up to HUF 500 million, 4% on revenue between HUF 500 million and HUF 5 billion forints, and 6.5% on revenue over HUF 5 billion. In committee before the final vote, a 0% rate was introduced for revenue up to HUF 100 million, while the rate for revenue between HUF 100 million and HUF 500 million was raised to 2.5% and the rate for revenue between HUF 500 million and HUF 5 billion was raised to 4.5%. The highest rate was left unchanged.
In a speech before Parliament's audit and budget committee on Tuesday, György Kopits, who heads the independent Fiscal Council, complained that changes had been made to the proposals on the crisis taxes at the last minute, without any review of their possible fiscal effects, as required by the law.
The bill on the crisis taxes was submitted to Parliament at the weekend and was passed on Monday. (MTI-Econews)
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