Tax authority seizes 27 tons of loose tobacco

Retail

Hungarian tax and customs authority NAV seized 27 tons of loose tobacco last year, up from the previous year’s 6.7 tons, while legal sales fell from 12 bln to 7.3 bln, with loose tobacco sales remaining unchanged at 5,000 tons, Hungarian economic daily Világgazdaság reported today.

National tobacco stores booked a revenue of HUF 535 bln. According to the paper’s calculations, a tobacco store has an average revenue of HUF 90 mln, however revenues greatly vary depending on the location of the stores.

Legislation approved in 2012 made the retail sale of tobacco products a state monopoly as of July 1, 2013, requiring store owners to acquire concessions on tenders.

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