Extraordinary healthcare contribution by tobacco companies approved

Telco

The Hungarian Parliament approved a legislation requiring tobacco companies to pay a one-off healthcare contribution next year, Hungarian news agency MTI reported today.

The progressive tax is based on net revenue and is 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. Tobacco companies may deduct part of investments completed this year from the contribution.

The motion was approved with 123 voting in favor, 38 voting against and 23 remaining in abstention.

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