The European Commission

The European Commission

January 15, 2011

The European Commission is looking into charges that a special “economic crisis tax” that Hungary imposed in October violates European Union law.

The tax applies to energy, telecom and retail companies and is a special levy on annual net revenue. It is supposed to remain in place through 2013.

Thirteen companies, including several large power companies, have complained to the commission that the tax targets sectors with fixed infrastructure investment in Hungary, while letting off other businesses that can be easily moved.

Keith Martin