The excise duties for 2013 will be calculated using an exchange rate of RON 4.52 per EUR, 5.2 percent higher than the rate used this year, according to data from the European Central Bank.

In Romania, the level of the excise duty in RON is established using the exchange rate announced by the European Central Bank on the first day of October.

Companies pay excise duties for alcohol, tobacco and energy products in Romania. The country cashed in some EUR 2.9 billion from excise duties in the first eight months of this year, covering some 10.9 percent of the total revenues. The excises revenues were up 9.5 percent in the first eight months compared to the same period last year. The Government expects excise duties to bring some EUR 4.4 billion revenues by the end of this year.

editor@romania-insider.com

(photo source: BAT)