Last week, the European Commission published the Country Reports – a detailed Member State by Member State assessment in the context of the European Semester. It concludes that EU countries should exploit the potential of Environmental Fiscal Reform (EFR). The bloc’s average of 6.3% of environmental tax take (in terms of total tax revenue) in 2014 was short of an indicative 10% goal set in 2011. GBE welcomes Brussels’ calls on Member States […]
Fuel tax amendment According to a new law on taxes which was adopted by the Parliament in June 2016, as of 1 September 2016, if the market price of the oil exceeds USD 50/barrel, then the applicable excise duty of fuels will be modified as follows: Unleaded petrol – HUF 120,000/thousand litre, Diesel oil – HUF 110,350/thousand litre. If the market price of the oil does not exceed USD 50/barrel, […]