Magyar English News (RSS 2.0)

Hungary Drops Internet Tax Plan After Surge of Protests

October 31. 2014.

The New York Times - By Rick Lyman

Prime Minister Viktor Orban of Hungary said on Friday that his government would abandon, at least for now, a proposed tax on Internet usage that drew tens of thousands of demonstrators to the streets this week.  More..

 

Health Tax Discourages Sugar Alternatives, Says Hunbisco

October 30. 2014.

Confectionery News.com / By Oliver Nieburg

Hungary’s confectionery association Hunbisco says that the national tax on sugar puts a financial strain on confectioners to explore sugar alternatives. More...

Hungarian FM: China-Hungary Cooperation Has Never Been As Good And Effective As Today

October 30. 2014.

People's Daily Online

"It is not an exaggeration to say that our cooperation in the field of politics, economy, commerce and culture has never been as good and effective as today," said Péter Szijjártó, Hungarian Minister of Foreign Affairs and Trade Tuesday. More...

Hungarians Hold Second Internet-Tax Rally as Cabinet Unmoved

October 28. 2014.

Bloomberg / By Marton Eder

Hungarians rallied for the second time in Budapest against government plans to tax Internet data, calling Prime Minister Viktor Orban to a debate and pledging to build an opposition movement. The protesters, numbering “tens of thousands” according to estimates by the ATV broadcaster, urged Orban to stand by his Fidesz party’s commitment to open dialog and debate the tax with the demonstrators. More...

Bloomberg View: In Defense of Hungary's Internet Tax

October 28. 2014.

Bloomberg View / By

Vigorous protests in Hungary against the government's attempt to tax Internet usage seem to support the idea, popular among U.S. legislators, that the Internet is a sacred cow and should be exempt from taxation. In reality, the protests have more to do with Hungarians' fatigue with Prime Minister Viktor Orban's unorthodox approach to taxation. Taxing information consumption is not such a crazy idea. More...

2015: The Year Of Tax Hikes In Hungary

October 30. 2014.

portfolio.hu / By Gergely Csiki

Portfolio research shows that the Hungarian government will raise at least nine taxes in 2015 if the planned changes to the tax regime are voted into law. The tax package, of course, could undergo several changes until the final vote by MPs due on 18 November. Yet, the message of the draft is disappointing not for this reason, but because of the new levies the cabinet plans to implement. Sectoral taxes appear to be the favourite tax policy means for Prime Minister Viktor Orbán’s government which is willing to assume substantial risks even for insignificant-looking HUF 20 bn revenues. This should be a warning for every sector that makes "extra" profit, in the eye of the cabinet. More...

Hungary Firm To Build New Oilfield In Iraq

October 30. 2014.

TradeArabia

The Kurdistan Regional Government in Iraq has approved a major new oil field development majority-owned by Hungary's MOL, the company said on Thursday. More...

Latest Statistics: Unemployment, Retail Trade

October 29. 2014.

Central Statistical Office

- Employment, July – September 2014 - In the 3rd Quarter of 2014, the number of employed people was 4,182 thousand, 192 thousand more than a year ago. The employment rate of people aged 15–64 increased to 62.8%. Read or download full report.

- Unemployment, July–September 2014 - In the 3rd Quarter of 2014, the number of unemployed people was 333 thousand, 102 thousand fewer than in the same period of 2013, and the unemployment rate decreased by 2.4 percentage points to 7.4%. Read or download full report.

- Retail trade, August 2014 - According to the second estimate, the volume of retail sales rose y/o/y by a calendar adjusted 2.5% in August 2014. The volume of sales decreased by 1.6% in food, drinks and tobacco stores, while it increased by 6.8% in non-food retail trade and by 4.3% in automotive fuel retailing. Read or download full report.

Zoltán Kovács Gives Short Interview On CNN’s Business Report

October 28. 2014.

PM's Press Office

Zoltán Kovács, the Government’s international spokesperson, joined Richard Quest on CNN’s business report Quest Means Business to explain the idea behind the amendment of the telecommunications tax by shedding light on what it will really mean from the perspective of service providers and citizens. More...

Emirates Flies To Budapest, Opens Customer Centre In City

October 28. 2014.

Emirates24Business

Dubai-based Emirates has launched a daily non-stop service to Budapest, marking its first entry into Hungary. The airline’s daily flight to Budapest is operated with a wide-body Airbus A330-200 aircraft in a two-class configuration. The Customer Contact Centre will support 300 jobs in Budapest, says Dubai's airline. More...