Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

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

News SummaryMost relevantAll newsSector 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
React to this article
04:38a DEUTSCHE TELEKOM : Morphisec Technologies Raises USD7 Million in Series A Fundin..
03:04a Vodafone goes back to basics after failed Liberty deal
10/06 DEUTSCHE TELEKOM : Israeli cyber security startup Morphisec raises $7m
10/05 Vivendi to increase TIM stake to 19%
10/03 T-Mobile US fumes over users' info hack
10/02 DEUTSCHE TELEKOM : wins international Customer Experience Award
10/02 Millions of T-Mobile clients exposed in breach
10/02 DEUTSCHE TELEKOM : sells shares in the IPO of Scout24
10/02 DEUTSCHE TELEKOM : New hub:raum investment: Teraki, a startup for IoT data optim..
10/02 Experian Shares Hit By T-Mobile Customer Data Breach
Duration : Period :
Deutsche Telekom AG Technical Analysis Chart | DTE | DE0005557508 | 4-Traders
Income Statement Evolution
More Financials