Seizures of illegal cigarettes up 150% since 2013

Crops

Hungaryʼs National Tax and Customs Authority (NAV) seized more than 100 million illegal cigarettes last year, up from an annual average of 60-70 million of the three preceding years, online daily Magyar Nemzet reported today.

Loose leaf tobacco was the real culprit of the latest seizures up from 4.5 tonnes to 26 tonnes last year, the paper said.

It’s apparent that many black market sellers consider the risk worth the reward given that profits reaped over the course of one night can often exceed HUF 6 mln.

Since Hungary initiated a state monopoly on retail tobacco sales in July of 2013, black market activity has increased dramatically with much of the goods arriving to Hungary from Ukraine. 

ADVERTISEMENT

ÁKK Exchanges HUF 20 bln of Bonds at Wednesday Switch Auctio... Debt

ÁKK Exchanges HUF 20 bln of Bonds at Wednesday Switch Auctio...

Hungary Makes Proposals to Ease Administrative Burden for EU... EU

Hungary Makes Proposals to Ease Administrative Burden for EU...

MOL Signs Antwerp Declaration for a European Industrial Deal Deals

MOL Signs Antwerp Declaration for a European Industrial Deal

Investors of the Year in Limelight at Hipa’s Award Ceremony Awards

Investors of the Year in Limelight at Hipa’s Award Ceremony

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.