Not to mention, extremist liberal neo-Marxist news portals and opinion leaders are trying to convince their readers, viewers, and listeners that extraprofit doesn’t exist, so taxing multis is unjustified. On the other hand, it is clear that we are talking about an existing economic concept, the tax on the extra profit is called a windfall tax in English.

The cited articles describe in detail the concepts, reasons and principles, we have now examined the profit development of a bank (OTP Hungarian branch), an energy company (MOL Group) and a telecommunications company (Telekom) since 2019. To filter out the impact of Covid mainly on 2020, we looked at the first quarter (Q1) each year, so even 2022 could be included in the variance, which is very significant.

If we consider the profit of Q1 2019 to be 100% for all three companies, by 2021 Q1 their profit increased to 175% (MOL), 141% (OTP) and 120% (Telekom). By 2022, the same companies had increased their profits to 243%, 236% and 213%, respectively. These large companies did not do much for this profit, as the market environment, the development of interest rates, the increase in the price of petrol and lifestyle changes generated a 2-2.5-fold increase in profit in a few years.

The tax on the extra profit is used to maintain the overhead reduction and to provide national defense. That is, multis pay a special tax on the part of the profit earned from non-surplus performance, which is given to the little man instead of the rich in the form of overhead reduction, and the other part is spent on national defense.

Source:
https://magyarnemzet.hu/gazdasag/2022/05/az-ertetlenkedo-szakertoknek-extraprofit-letezik
https://mandiner.hu/cikk/20220608_makronom_extraprofitado
https://mandiner.hu/cikk/20220112_makronom_extraprofit_inflacio
https://mandiner.hu/cikk/20220527_extraprofit_rezsicsokkentes_haderofejlesztes_kulonado
https://szamokadatok.hu/Post/5277/Fizessenek_a_gazdagok_-_csak_mast_ertunk_ez_alatt
https://molgroup.info/storage/documents/publications/quarterly_reports/2019/q1_2019_results.pdf
https://molgroup.info/storage/documents/publications/quarterly_reports/2020/q1_2020_results.pdf
https://molgroup.info/storage/documents/publications/quarterly_reports/2021/q1_2021_results.pdf
https://molgroup.info/storage/documents/publications/quarterly_reports/2022/q1_2022_results_call.pdf
https://www.otpbank.hu/static/portal/sw/file/190509_OTP_20191Q_e_final.pdf
https://www.otpbank.hu/static/portal/sw/file/2020_1Q_conference_call_final.pdf
https://www.otpbank.hu/static/portal/sw/file/OTP_20211Q_e_final.pdf
https://www.telekom.hu/static-tr/sw/file/Magyar_Telekom_Q12019_Results_8May2019_eng.pdf
https://www.telekom.hu/about_us/investor_relations/investor_news/2020/may_13
https://www.telekom.hu/about_us/investor_relations/investor-news/2021/may_11_1