The several modifications show that the tax is not well considered and that there were no feasibility studies, he remarked, adding that the move hurts the economy.

Urbán argued that every Ft 10 spent on advertising adds Ft 47 to GDP, but the tax will undermine this effect.

The number of advertising companies in Austria shrank by 17.5% when that country introduced a 5% tax on advertising, he added.

Source: Hungary Around the Clock

This news item is one of many published daily by HATC, a premier subscription news service which distributes English-language info about Hungary via email or fax. For a free trial of HATC follow this link and click on 'Free Trial Subscription'.