Published: February 28 2023
Summary:
Richter Gedeon Plc, a pharmaceutical company, reported losses for the year 2022 due to a special tax imposed by the government in December, as well as exchange rate changes. The special tax was described by President Erik Bogsch as something special in the industry's history, and is on a sliding scale with 1% applied to turnover up to HUF 50 billion, 3% on the share of turnover between HUF 50 billion and HUF 150 billion and 8% applied to the part above HUF 150 billion.
Key Points:
- Richter Gedeon Plc reported losses for the year 2022 due to a special tax and exchange rate changes
- The special tax was imposed on domestic pharmaceutical manufacturers on the night of 23 December
- The special tax is on a sliding scale with 1% applied to turnover up to HUF 50 billion, 3% on the share of turnover between HUF 50 billion and HUF 150 billion and 8% applied to the part above HUF 150 billion.
Source article:
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