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VP expects 10% increase in excise-tax revenue from tobacco

The Hungarian Customs and Finance Guard (VP) expects excise-tax revenue on tobacco products to rise 10.03% yr/yr to HUF 298 billion (€1.11 billion) in 2009, VP National Commander János Nagy said at a press conference on Monday.

Commander Nagy noted that the VP generated HUF 271 billion in excise-tax revenue on tobacco products in 2008, up 7.03% from 2007.

The VP recorded an 18.86% decline in cigarette turnover in the first nine months of 2009, while that on cigars and cigarillos rose by 1.82% during the period. Turnover on finely cut consumer tobacco dropped 9.85% in the first nine months of 2009, while that on other types of tobacco fell 42.65% during the period. (MTI-ECONEWS)