Economics
Orban’s Tax Binge Repels Investors as Recession Menaces Hungary
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Hungarian snack maker Chio Magyarorszag Kft. was slated to receive funds last year from its Cologne-based parent, Intersnack Knabbergebaek GmbH, for two expansion projects. Then came the potato-chip tax.
The special duty imposed by Prime Minister Viktor Orban’s government meant Gyor, Hungary-based Chio Magyarorszag missed out on getting the cash as Intersnack diverted the money to another one of its non-German subsidiaries.