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Jobbik Wants Banks to Pass on Tax Savings to Customers

MTI-Hungary Today 2019.01.18.

Despite the government’s Jan. 1 abolishment of the duty on banking transactions below 20,000 forints (EUR 62.5), many banks have not reduced customer fees accordingly, an opposition Jobbik official said on Thursday.

The government is letting banks keep the small amount of relief customers deserve, the conservative party’s deputy leader, Dániel Kárpát Z, told a press conference.

Banks pay over 200 billion forints each year in transaction duties, he said. Either the banks should pay these without the transferring the cost of transactions on to their customers or the levy should be scrapped altogether, he added.

Concerning a separate special tax on banks, he said the original rate should be reinstated.

Jobbik also calls on the government to pull out of the agreement with the European Bank of Reconstruction and Development (EBRD) in which the government agreed to exempt banks from all costs related to compensating customers who took out loans in foreign currency, Kárpát Z said.

Further, he said the central bank should pay all its accumulated profits into the state treasury.