Govt submits bill on special retail tax for large companies

The government has submitted to parliament a bill on introducing a special retail tax on large companies to offset the impact of the novel coronavirus epidemic, the finance ministry said. The tax will not affect small retailers, the ministry said. Companies with annual revenues between 500 million forints (EUR 1.4m) and 30 billion would pay 0.1 percent on net sales, while revenues between 30 billion and 100 billion would be taxed at 0.4 percent. Revenues above that would be taxed at 2.5 percent.