Mazars Hungary Tax Newsletter No. 12/2012

On 9^th July, 2012, the Hungarian Parliament voted on the transaction and insurance taxes, and the laws are expected to be enacted at the end of this week. The new payment liabilities come into force on 1^st January, 2013. The sectoral taxes paid by insurance companies, and the fire protection contribution will be replaced by the unified insurance tax, but the accident tax remains valid. News can be heard about the repeal of sectoral taxes paid by banks, but there are no facts about it yet.