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new Tax
Hungary tax studies Internet use and phone calls
BUDAPEST, May 20. (Reuters / EP) -
Hungary looks to implement a new tax on telephone calls and Internet use that could raise up to 50,000 million guilders (about 168 million euros) annually and help fill budget holes, said Friday Origo.hu website, citing sources Ministry of Economy.
Hungary, which tries to reach a funding agreement with the European Union and the International Monetary Fund, the EU needs to prove it can keep its deficit below the EU ceiling of 3 percent of gross domestic product (GDP) this year and the next.
Government is expected to complete its fiscal plans and send them to Brussels later this month.
In March, the finance ministers of the EU suspended Hungary's access to 500,000 million euros in aid from 2013 for not keeping your budget under control, but added that it could escape sanctions if he put some medicine before June.
Origo said the government will address the fiscal plans on Wednesday. Has to overcome a hole of 150,000 million forints this year and about 400,000 million next. The deficit reduction measures could also include a new tax on financial transactions, as has been suggested the economy minister, Gyorgy Matolcsy.
The new tax could raise between 100,000 and 250,000 million guilders to state coffers, depending on financial transfers that were affected.
A ministry spokesman could not immediately be reached for comment.
Last month, Brussels said Hungary's deficit could reach 3.6 percent of GDP in 2013 if no further action taken against a target of 2.5 percent.
