Minister for National Economy Mihaly Varga handed in a proposal that would give financial preferences to banks. In return, they should increase both household retail loans and corporate loans.
If they succeed, they will be allowed to pay less tax by more than 60 percent after going through a gradual reducing plan in the next three years.
According to the proposed bill, bank tax will 0.15 percent of total assets of 50 billion HUF tax base, above that they have to pay 0.31 percent in 2016, and 0.21 percent in 2017 and 2018 respectively. In contrast, the tax payable above is presently 0.53 percent.
