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Hungary Introducing Windfall Tax on Banks, Energy Companies, Large Retailers, and Others

|Proposed Changes|Hungary
Hungary

Hungarian Prime Minister Viktor Orbán has announced that the government will be introducing a windfall tax on "extra profits" earned by companies in several sectors. The windfall tax is to be temporarily imposed in 2022 and 2023 to generate revenue for two funds that would finance the cost of energy price caps for households and the development of the Hungarian army. According to Economic Devel…

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