András Kármán Announced the Details of the Diesel Subsidy and Revealed the Background to the Excise Tax Increase
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8 Articles
Until December, the state will provide a monthly subsidy of 5,000 forints to owners of diesel cars with a maximum power of 150 horsepower.
The government would provide a monthly subsidy of 5,000 forints to owners of diesel cars with less than 150 horsepower until the end of the year, and would temporarily make the excise tax on diesel fully refundable for agricultural producers, Finance Minister András Kármán announced in the Parliament on Tuesday. Another independent element of the bill would be a significant increase in the excise tax on tobacco products from November, from which…
The affected vehicle owners will receive the diesel subsidy, they will be identified based on the NAV database, but the real question is not how much five thousand forints is worth. After all, carriers were left out of the beneficiaries, their fuel costs are directly reflected in the transport charges, a ten percent increase in fuel prices raises inflation by one percentage point. The interest groups have initiated negotiations, and if they are …
The representatives also decided to increase the excise tax on tobacco products.
The majority of the Hungarian Parliament voted for the bill containing the support for diesel car owners. The previously known scheme has not changed significantly: some diesel car owners can receive a total of 20 thousand forints by the end of the year. The same legislation also includes an increase in the excise tax on tobacco products, which will come into effect from November.
Targeted diesel subsidies are needed to avoid fuel tourism and ensure uninterrupted supply. The health costs of smoking are double what is collected from taxes on the products.
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