Hungary to Exempt Interbank Transactions From New Financial Tax
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Hungary’s financial transaction tax, to be introduced in 2013, will exempt interbank transfers from the levy, according to the text of the proposal posted on parliament’s website.
The tax, which the government expects to yield 130 billion forint ($575 million) a year in revenue, will affect corporate and household bank transfers and be levied at a rate of 0.1 percent, according to the draft. Cash transfers initiated through postal services will also be taxed while transactions with securities will be exempt.