New rules for retail trade from 1 June

On 1 June a government decree came into effect, imposing mandatory promotions for FMCG retail chains. According to the new rules, in 20 product groups grocery retailers have to cut prices of minimum 1 item by more than 10%, for at least one week. The Hungarian government has also changed the regulation on extra profit taxes: in the retail sector businesses must pay 4.5% of the tax base over HUF 100bn, instead of the former 4.1%. //