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Hungary To Raise Gambling Taxes

A report in the Budapest Business Journal states that the Hungarian Federal government is set to increase taxes on traditional and online gambling in 2012.

The report states that the tax hike was announced by György Matolcsy, National Economy Minister on Tuesday. Matolcsy said that the government is set to raise taxes on general gaming machines on November 1st, 2011. He also added that the bill is currently before Parliament.

Minster Matolcsy also commented on online gambling, saying that a concept for dealing with taxation of cyber gambling is being worked on, but may be hard to levy. He did not comment on the rate of the tax hike.

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