Tobacco investors: the new excise tax proposal may lead to the collapse of the market

According to the Hungarian Association of Tobacco Industry Investors (DBMSZ), if the National Assembly would accept the new excise tax proposal, it would lead to the collapse of the entire market – the trade organization told MTI on Friday.

The communication recalls that the proposal presented by the government plans to increase excise duty on tobacco products in three stages by 29 percent within 1.5 year.

According to the Association, the tax increase on cigarettes may bring an increase of up to 300 HUF by the end of 2017. (MTI)