The Hungarian government is reportedly considering a reduction in its highly controversial Advertising Tax following pressure from major media groups and the European Commission, which has launched a preliminary probe. The tax was introduced in August 2014 with a top rate of 40% levied on advertising income from various media, including TV, print, online and other ad space/time. The top rate was later increased to 50% effective 1 January 2015. The current rates are progressive as follows: up to HUF 500 million - 0% over HUF 500 million up to 5 billion - 1% over HUF 5 billion up to...