Tobacco trade centralization bill passed
The Hungarian parliament yesterday approved a measure to increase tax on tobacco products in two phases, first in April and again in July, news portal vs.hu reported yesterday.
Tobacco distribution will be centralized as of September 2015, either through being directly controlled by the state or through a trading concession, according to the news site. Tobacco wholesalers will be forced to sell their products through the distributor owning the concession.
The distributor(s) will have 60 days to pay the wholesalers’ bills, while tobacco retailers will have 15 days to settle the distributors’ invoices. The concession may be resolved without an open concession tender, according to vs.hu.
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