A Hungarian lawmaker from the country’s ruling party has put forward a proposal for an additional high level of tax on media advertising.
The Hungarian Advertising Association said it was shocked by the tax which would be on revenue, not profit, even though much of Hungary’s media operates at a loss, or with just small profits.
Critics called it an attempt by the government of Prime Minister Viktor Orban to undermine RTL Hungary, the country’s largest broadcaster .. which would end up paying about half of the total tax revenues.
RTL – which government supporters have tried, and failed, to buy a stake in – called it “unprecedented in Europe”.
RTL and TV2, the two largest TV channels, plan to go off air for 15 minutes on Thursday in protest.
Even pro-government media organisations have spoken out against the idea.
The euronews Budapest business correspondent Doloresz Katanich said: “It is not the first time the government has tried to launch an advertising tax, but previously it gave up. The projected tax revenue raised would have little effect on the budget, but would seriously impact Hungary’s biggest commercial TV station. Companies close to the government had in the past unsuccessfully tried to buy a stake in that broadcaster.”
- 1Kazakhstan’s currency plunges after central bank abandons USD peg
- 2China’s ‘Black Monday’ a symptom of wider malaise in the world’s second largest economy
- 3Chinese problems lead to plunging markets
- 4European shares tumble as China panics investors
- 5The currency war intensifies after China devalues the yuan
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2International breaking news | euronews online world breaking news in video
- 3Caught red-handed: the Russian Major fighting in Ukraine
- 4International news | euronews, latest international news
- 5Video footage shows massive explosion in Tianjin, China
- 6Latest News Bulletin
- 7Ukraine puts top Russian general Gerasimov on ‘most wanted’ list
- 8Snowden, Assange and Manning statues unveiled in Berlin
- 9Who came out top in the US Republican television debate?
- 10Why World Elephant Day matters
- 11UK: at least 7 dead after plane crashes into road in Brighton
- 12Virginia:TV journalist and cameraman shot dead live on air
- 13ISIL militant group claims to have killed Croatian hostage in Egypt
- 14Earth Overshoot Day…Pushing Mother Nature too far
- 15Windows 10, three weeks on: the good, the bad and the ugly
- 16Bringing the trolls out of the dark: Russian ‘troll’ awarded 1 rouble damages
- 17As ‘Daily Show’ Jon Stewart’s tenure ends, scholars say goodbye to their research topic
- 18Momentum for Mars: Astronauts say mission is inevitable
- 19Migrant crisis pushing Greek island of Kos to the limit
- 20Who are the six EU countries with shortest memories on migration?
Wires > Business
- 14:15 CET Britain’s economic growth accelerates in second quarter, helped by…
- 13:45 CET British payments glitch at HSBC leaves thousands without wages
- 12:56 CET Carlyle in talks on 500 million pound takeover of Innovation Group
- 12:21 CET Euro zone sentiment edges to new four-year high in August
- 12:18 CET German inflation stays ultra low in Aug., state data suggests
- 12:01 CET Prosecutor seeks to summon Murdoch in Deutsche Bank trial
- 11:52 CET 888 and GVC head into final battle for Bwin
- 11:51 CET Bank of China says faces margin pressure in second half from rate…