Tobacco firms receive tax incentive for job creation


The additional contribution tobacco companies are expected to pay into healthcare coffers next year could be reduced by as much as 80% for those companies which contribute to job-creation through investments, according to an amendment approved by Parliament yesterday.

The one-off contribution could be decreased by up to 30% of the total investment made, excluding all grant money.

The amendment would reduce the HUF 11 bln-12 bln in revenue the tax is expected to generate by several hundred million forints, but the government is in support of the amendment, State secretary Gábor Orbán said.

According to the original bill, tobacco companies would be expected to pay a progressive tax based on net revenue – 0.2% for HUF 30 mln to HUF 30 bln, 2.5% for HUF 30 bln to HUF 60 bln, and 4.5% for anything above that. Revenues from the tax would be used exclusively to finance state-funded healthcare.


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

Chain Bridge to be closed for traffic for 18 months City

Chain Bridge to be closed for traffic for 18 months


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.