LMP condemns gov’t scheme to let offshore money back into Hungary

The government scheme dubbed “stability savings account”, which lets people repatriate offshore money, should be scrapped because it is making Hungary into a “gangsters’ paradise”, the green LMP party said. It also undermines tax morale and the credibility of the tax system, László Heltai, the party’s economic spokesman, said in a statement. He added the tax relief enjoyed by individuals repatriating their ill-gotten gains is a slap in the face of respectable taxpayers. Given that foreigners can also open such accounts, criminals’ money will be attracted from “all corners of the world”. LMP wants to abolish this “money-laundering” option, and the party would also ban public money being paid to companies with offshore accounts. This would be a far better way of sparing taxpayers’ money, he said.