ADVERTISEMENT

Govt to levy ‘chips tax’ on more foods

Banking

Hungary's government plans to apply a tax on unhealthy food to more products, including coffee, daily Népszabadság said on Friday.

The government also wants to raise the tax for products on which it is already levied, the paper said.

Food industry insiders said they had not been consulted on any changes to the tax.

The "chips tax" on food high in sugar, salt, carbohydrates and caffeine came into force on September 1.

The government targeted revenue of HUF 5bn from the tax in 2012, but there could be a shortfall as retailers seem to have stocked up on the products affected by the tax before it was introduced, the paper said.

Next year, the tax is expected to generate revenue of HUF 30bn.

ADVERTISEMENT

Rate-setters augur slower decline in CPI in 2022 Analysis

Rate-setters augur slower decline in CPI in 2022

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

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.