Romania's Finance Ministry increases excise duty on cigarettes
Romania’s Finance Ministry will offset the effect of the VAT rate cut on the cigarette price by increasing the excise duty on tobacco and cigarettes.
Starting 2016, the total excise duty for cigarettes will increase by 4.5%, virtually cancelling the effect of the VAT rate reduction from 24% to 20%, starting January 1, reports local Profit.ro. The excise duty will be at least EUR 94.5 per 1,000 cigarettes or EUR 1.9 per pack.
The minimum excise duty from next year will thus be higher than the total excise this year, which amounts to EUR 93.2 per 1,000 cigarettes. In 2017, the excise will go up again, to EUR 98.4 per 1,000 cigarettes.
editor@romania-insider.com
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