Hungarian Government To Keep Excise Tax On Fuel
- 13 Apr 2012 9:10 AM
"The government does not intend to lower the excise tax on petrol, Economy Minister György Matolcsy said in reply to a written question put forward by Jobbik MP Gábor Ferenczy in Parliament. Opposition MPs have urged the cabinet on numerous occasions to reduce the tax on fuel, which is the highest in the region.
Matolcsy argued that lowering the excise tax would not significantly reduce prices at petrol stations, but would cost the budget tens of billions of forints.
This budget foresees Ft 520 billion of revenue from excise tax on petrol this year, Napi Gazdaság adds.
Matolcsy also cited an EU directive that sets a minimum level of excise tax on fuel.
High fuel prices are not a specifically Hungarian phenomenon, he continued, as other EU countries have faced a drastic and continuous rise in fuel prices as well, due to global and geopolitical factors.
As fuel prices climb higher, the content of the excise tax in the retail price will decline, he argued."
Source: Hungary Around the Clock
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