Tax the trash!

The first legislation act of the new Parliament is to introduce a tax on advertisements. The Orbán government already planned to impose such a tax on the Hungarian media last year but eventually they didn’t go ahead then.

According to the draft bill,  the first Ft 500 million Forints (1.65 million EUR/2.25 million USD) of the tax base will be exempt from the new tax.  Then the tax will be one percent up to 5 billion HUF, it’ll be ten percents in the 5-10 billion range, 20% up to 15 billions, 30% up to  20 billions and it’ll be 40%  on the part of the tax base exceeding Ft 20 billion.

Though the tax would also be applied to daily and weekly newspapers, websites, outdoor ad carriers and vehicle advertisements, it  would primarily affect commercial TV stations.

 

 

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