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Hungary: Rogán will appeal to competition authority if banks pass on tax

By  |  November 6, 2012

The head of Hungary’s ruling Fidesz party’s parliamentary group, Antal Rogán, has announced he would appeal to the GVH, the nation’s competition authority, if banks collectively pass on the financial transaction tax. Banks can pass on the tax, also known as the FTT, without legal difficulty, and unload the financial burden on to consumers. Economists say, however, that even if there were a concerted action of banks passing on the tax, price differences would be preserved and competition would remain.

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