Bank Tax In Hungary To Remain In Place Next Year
- 1 Oct 2014 9:00 AM
![Bank Tax In Hungary To Remain In Place Next Year Bank Tax In Hungary To Remain In Place Next Year](/binaries/content/gallery/xpatloop/news/2014/10/c13cb2a4-9730-4e04-998b-a804e0aa1f3a.jpg/c13cb2a4-9730-4e04-998b-a804e0aa1f3a.jpg/xpatloop%3Achannelslarge)
The official said the government has not yet decided whether to convert forex debts at market exchange rate or below, but it should be taken into consideration that an under-market-rate conversion would present risks to financial stability.
The state secretary expected financial institutions operating in Hungary to have a clearer view of their situation after the settlement of refunds to household borrowers, the debt conversion and the planned establishment of a “bad bank” are over.
Banks cannot yet make up their minds on whether to leave Hungary or stay put, but if a foreign bank decides to leave, “the government will be there to pick up the threads”, he said.
Source www.hungarymatters.hu
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