Hungarian MPs supported a law that would require both the National Bank of Hungary and the State Treasury to pay a financial transaction tax, similar to commercial banks. The Parliament also supported an amendment to the law that would exempt cash payments into an account from the financial transaction tax. Not only cash payments, but interbank transactions and securities transactions would be exempt as well, but commercial bank deposits into the central bank received no exemption. This new amendment caps the tax obligation at HUF 6,000 per transaction, except for the National Bank and the State Treasury, which would be required to pay 0.1% of the transaction amount with no upper limit. The final vote concerning the transaction tax will be next week.
