Hungary's New 'Defence Contribution' Targets Multinationals

Hungary's government, led by Prime Minister Viktor Orban, will impose a 'defence contribution' on multinational energy firms, banks, and other companies. Additionally, the government will not lower windfall taxes on retailers and multinational companies this year, as confirmed by Orban's chief of staff, Gergely Gulyas, following a meeting.

Hungary's government, spearheaded by Prime Minister Viktor Orban, has announced the introduction of a 'defence contribution' targeted at multinational energy firms, banks, and other corporations. The move was confirmed by Orban's chief of staff on Monday.

In another significant decision, Hungary will not reduce windfall taxes levied on retailers and multinational businesses this year. This was an outcome of discussions held in a government meeting, as shared by Gergely Gulyas, the chief of staff.

The new measures are part of Hungary's broader economic strategy to bolster national defences, ensuring that large corporations share the fiscal burden. Observers are keenly watching how these policies will impact the business environment and economy.

(With inputs from agencies.)