September 20th, 2012
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Tax amnesty lures back HUF 55 billion from offshore accounts

offshore

A tax amnesty on assets repatriated from offshore accounts brought back HUF 55bn to Hungary in 2011 and the first seven months of 2012, daily Magyar Nemzet said on Wednesday, based on data from the National Tax and Customs Authority (NAV).

Under the amnesty, which ends at the end of 2012, Hungarians pay just 10pc on the repatriated assets.

NAV data showed tax payments on the assets came to HUF 2.9bn in 2011 and HUF 2.6bn in January-July of 2012.

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