Hungary tax move alarms investors

Article reports that Hungary alarmed investors on the 10 November 2010 when it revealed plans to retain a series of special taxes on banks and other key sectors for at least two years after they expire in 2012 in order to boost government revenues.

Hungary’s new government passed a punitive bank tax in July 2010 and in October announced so-called 'crisis-taxes' on the retail, energy and telecoms sectors to help rein in the deficit.

ESO: Background information: Hungary unveils ‘crisis’ taxes on business http://www.europeansources.info/record/hungary-unveils-crisis-taxes-on-business/

ESO: Background information: Hungary IMF talks suspended http://www.europeansources.info/record/hungary-imf-talks-suspended/

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