Regulator signs on tobacco companies to clamp down on fraud

Food

The national tax and excise office (NAV) has signed a cooperation agreement with members of the Hungarian tobacco industry association (MDSz) and with Philip Morris Hungary to step up the fight against counterfeit and smuggled products, NAV said on Wednesday.

NAV will exchange information with BAT's Pécs tobacco factory, Imperial Tobacco Hungary, JTI Hungary, Continental Tobacco and Philip Morris in order to combat crime, react fast to market changes and help collect excise tax.

The sides will exchange information about the transport of tobacco products, information to assess the authenticity of seized shipments and will organize training to boost crime-fighting efficiency.

NAV said the agreement would also help Hungary fulfill the European Union requirements regarding the respective tax level by December 31, 2017.

ADVERTISEMENT

European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

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.