VAT On Internet Subscriptions In Hungary May Be Cut To 18%
- 8 May 2015 4:00 AM
The VAT rate on internet subscriptions may be reduced from 27% to 18% from next January, daily Napi Gazdaság said. Further, one of the main pillars of the public utilities tax may be reduced from 2017. The reduction would be a quid pro quo for telecommunication companies helping to develop a superfast broadband network, to which the government may contribute 150 billion forints (EUR 492m), the paper said.
A sectoral tax on telecommunications companies could also be gradually phased out in a similar way to the tax on banks, the paper said.
Telcos in Hungary pay the utilities tax based on the size of their networks. They pay the telco tax based on calls and text messages.
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