Hungarian ad tax protest grows
June 6, 2014 07.56 Europe/London By Chris Dziadul
Over 70 Hungarian commercial media outlets have held a 15-minute blackout to protest against the government’s plans to introduce a new tax on advertising.
Quoted by WSJ, Zsolt Urban, president of the Hungarian Advertising Association (MRSZ), said “The detrimental effects of the tax is unfathomable. I am not saying that because of dramatic impact but because I think the government is not yet aware of that.”
He added: “The advertising sector is fighting for its life. Furthermore, this tax undermines the Hungarian media business and the anticipated fiscal benefit is dwarfed by its negative impact on the economy.”
The proposed new tax is expected to bring in some HUF7 billion (€23 million), with the national commercial TV station RTL Klub contributing around half that amount.