BAT Pécsi Dohánygyár, Imperial Tobacco Magyarország, JTI Hungary and Philip Morris Magyarország said that the new measures clearly serve as a bad example for foreign-owned companies considering investing in Hungary.

The law will have a substantial negative impact on the Hungarian economy, jobs will be lost, and the state could lose tax revenues with the black market gaining ground, they said.

The companies said it is questionable whether the new regulation complies with European Union or Hungarian regulations.

Source www.hungarymatters.hu

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