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Bulgaria to Gradually Up Excise on Raw Tobacco
BULGARIA TO GRADUALLY UP EXCISE ON RAW TOBACCO
Date: 07/11/2010
Source: novinite.com
Bulgaria to Gradually Up Excise on Raw Tobacco

Bulgaria will continue in a course of gradual raise in the excise of raw cut tobacco with state budget 2011, which previews a rate of BGN 130 per kg.

This was revealed by ruling GERB party MP Dimitar Glavchev, who said that the Parliamentary Budget Committee has fully consulted all stakeholders in tobacco production when determining the rate at which the excise will be increasing.

The decision reached was to raise the excise with 20% and then to continue raising it symmetrically with the ups in the tax levied on tobacco products such as cigarettes.

Forecasts for 2012 preview a BGN 152 per kilo levy for cut tobacco.

Bulgaria has to gradually meet EU requirements in the excises on tobacco products, which aim at largely unifying prices across the Union.

The Bulgarian excise for 2011, equal to some EUR 65 per kg, will be lower than that for neighboring EU members Greece and Romania, which are said to be EUR 67 and EUR 81, respectively.


Topic: Economy



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