The Budapest Stock Exchange has urged the Hungarian government to exempt certain forms of investment from capital gains tax to help sustain investment growth.
Exchange chairman Attila Szalay-Berzeviczy wants the exemption to apply to securities investments issued in the EU or OECD countries which are kept in a special long-term savings account for at least three years, he told a press conference last week.
The proposal follows the introduction of a 20% capital gains tax on September 1. The measure was ushered in to help the government balance its books, but the Budapest bourse fears that it will ultimately stymie growth in the country's investment sector.
Szalay-Berzeviczy said that his proposal has been submitted to Prime Minister Ferenc Gyurcsany, and expressed confidence that it would be favourably received by the government.
The proposal also has the backing of the Hungarian Association of Fund and Asset Managers (Bamosz) and the Association of Investment Service Providers (BSzSz).
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment