• May 21, 2024

Hungary Tobacco Excise to Increase

 Hungary Tobacco Excise to Increase

Image: Daniel | Adobe Stock

Image: Daniel | Adobe Stock

Excise duties on tobacco products and alcohol products will increase in Hungary beginning January 2024, according to Finance Minister Mihaly Varga’s tax plan, reports Hungary Today.

Under the plan, the price of a pack of cigarettes could increase by up to 250 forints.

The tax increase is necessary, according to the finance ministry, because the European Union minimum tax is set in euros.