Member access

4-Traders Homepage  >  Shares  >  Xetra  >  Deutsche Telekom AG    DTE   DE0005557508

DEUTSCHE TELEKOM AG (DTE)

124
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll news 

Hungary Mobile Operators Slam Government Telecoms Tax Bill

05/14/2012 | 11:06am US/Eastern

Hungary's mobile operators Monday slammed a government bill to tax operators on voice traffic, deeming it a direct successor to sectoral levies the government agreed to phase out from 2013.

As part of a fiscal overhaul program, the government has proposed several taxes, including the voice-traffic levy, in a bid to hit budget deficit goals of 2.5% of gross domestic product in 2012 and 2.2% of GDP in 2013. The government hopes the new taxes will generate 30 billion forints ($133.6 million) this year and HUF52 billion next year.

The planned voice-traffic tax is HUF2 a minute with monthly upper limits set at for HUF700 household consumers and HUF2,500 for corporate customers.

The government had said during sectoral negotiations that the tax would be imposed on consumers, whereas the cabinet's bill aims the tax at service providers, Magyar Telekom Nyrt. (MTELEKOM.BU), Telenor Hungary Zrt. and Vodafone Hungary Zrt. said in a joint statement.

The companies said the new levy doubles the tax load on service providers, referring to a sectoral crisis tax that has weighed heavily on profitability since 2010.

Magyar Telekom is owned by Deutsche Telekom AG (>> Deutsche Telekom AG), while the other two are subsidiaries of Telenor ASA (TEL.OS) and Vodafone Group PLC (>> Vodafone Group plc).

-By Marton Eder, Dow Jones Newswires; +3630-905-4679; marton.eder@dowjones.com

Stocks mentioned in the article : Deutsche Telekom AG, Vodafone Group plc, Vodafone Group plc
Latest news on DEUTSCHE TELEKOM AG
5h ago DEUTSCHE TELEKOM : Telekom launches European M2M partner program
1d ago T MOBILE US : Sony Xperia® Z3 Coming to T-Mobile's Data Strong Network
1d ago INFINEON TECHNOLOGIES : Deutsche Telekom show network security platform
1d agoDJMAGYAR TELEKOM TAVKOZLESI NYRT : Hungary Government Should Revoke Planned Intern..
1d ago DEUTSCHE TELEKOM : Magyar Telekom reports 73% LTE coverage, targets 93% by end-2..
1d ago INFINEON TECHNOLOGIES : Data Security is a Prerequisite for Succesful 'Industrie..
2d agoDJHungary Plans to Tax Internet Use with Levy on Service Providers
2d ago MAGYAR TELEKOM TAVKOZLESI NYRT : Change in Magyar Telekom Group's top management
2d ago MAGYAR TELEKOM TAVKOZLESI NYRT : Hungary's Magyar Telekom CCO resigns
2d ago DEUTSCHE TELEKOM : 2014 Cyber Security Summit: Transatlantic Dialog between Busi..
Advertisement
Chart
Duration : Period :
Deutsche Telekom AG Technical Analysis Chart | DTE | DE0005557508 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF