BUDAPEST, Hungary (AP) — The Hungarian government says it will impose new taxes on multinational retail chains and banks to boost state budget revenues needed to fight the coronavirus pandemic.
Retailers will pay about $106 million and banks about $162 million, while a vehicle tax totalling $100 million normally paid by car owners to municipalities will be transferred to the central budget.
Gergely Gulyas, Prime Minister Viktor Orban´s chief of staff, also said Saturday that political parties will lose 50 per cent of their state funding, saving the budget about $3.5 million.
Measures totaling 18-20 per cent of GDP to counter the economic effects of the pandemic will be announced early next week.
Hungary has reported a total of 678 confirmed virus cases and 32 deaths.