Bill would make tobacco companies pay one-time healthcare contribution

Banking

A bill submitted by an MP of the governing Fidesz party on Thursday would require tobacco companies to pay a one-off extraordinary healthcare contribution next year, Hungarian news agency MTI reported.

The tax would be based on net revenue and set at 0.2% for HUF 30 mln to HUF 30 bln, at 2.5% for HUF 30 bln to HUF 60 bln, and at 4.5% for anything higher. The proceeds from the tax would be earmarked exclusively for financing state-funded healthcare.

The tax aims to create a "fair(er) sharing of the public burden" and to finance the restructuring of the healthcare system, according to its author, MP Kristóf Szatmáry. Because it is a one-off tax, "tobacco industry companies will, in reality, bear the brunt of the burden, and market players will not pass on the burden to consumers", according to the bill's justification.

Hungary Account Deficit at EUR 561 mln in Q4 Debt

Hungary Account Deficit at EUR 561 mln in Q4

Moldovan Pensions to be Increased as of April 1 World

Moldovan Pensions to be Increased as of April 1

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic... Appointments

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic...

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.