Lázár, Simon submit bill to lower excise guarantee

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Cabinet Chief János Lázár and state secretary Simon L. László yesterday submitted a bill that would reduce the excise tax guarantees wholesalers of alcohol are required to have to HUF 20 mln from the previous HUF 22 mln threshold, Hungarian news agency MTI reported.

Lawmakers approved legislation raising the guarantee threshold from HUF 22 mln to HUF 150 mln last November, but later approved amendments that would make the threshold progressive with the aim of supporting small wholesalers, starting in 2016.

Earlier the Prime Minister's Office said it was not backing a proposal by an MP of the governing Fidesz party on raising the size of excise guarantees wholesalers of alcohol are required to maintain, the Prime Minister’s Office announced yesterday on the official website of the Hungarian government.

Later the National Economy Ministry agreed with a proposal by the Prime Minister's Office to reverse changes to rules on excise guarantees required from wholesalers of alcohol. The ministry also said today that they have consulted with the tax office to ensure that no wholesaler will be placed at a disadvantage until the amended legislation comes into effect.

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