Prices For Cigarettes In Hungary Set To Rise In Near Future

  • 22 Oct 2020 9:15 AM
  • Budapest Business Journal
Prices For Cigarettes In Hungary Set To Rise In Near Future
The average price of a pack of cigarettes in Hungary could rise from HUF 1,400 to HUF 1,600 by next April because of excise tax increases, conservative daily Magyar Nemzet reports.

A bill submitted by the government to lawmakers would raise the excise tax on cigarettes by 7.3% from next January and by another 4.8% from April, State Secretary for Tax Affairs Norbert Izer told the paper.

He added that the tax rise is "unavoidable" to comply with European Union directives.

The bill would raise the excise tax on cigarettes to to 23% of the retail sales price, rising to HUF 37,300 per 1,000 cigarettes from January 1. From April 1, the tax would increase to HUF 39,300 for 1,000 cigarettes.

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Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

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