Romanian Cigarette Prices To Climb Come July 1
The retail price for one pack of cigarettes will increase by an average RON0.4, starting with July 1, when the total excise will be increased to EUR50 /1,000 cigarettes, compared to the current excise of EUR41.5, sources within the Ministry of Economy and Finance told MEDIAFAX.
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Romanian Cigarette Prices To Climb Come July 1
The ministry set that the specific excise will be EUR27.31 /1,000 cigarettes, added with an ad valorem excise of 25% applied to the retail selling price.
The minimal excise will grow by EUR6, to EUR45.5 /1,000 cigarettes (RON152.72 /1,000 cigarettes). The minimal excise represents 91% of the excise paid for the best selling category of cigarettes, namely the premium category starting with this year.
For products in the processed tobacco group, the excises will be applied on July 1 of every year, in accordance with the commitments undertaken by Romania in negotiations with the EU.
Romania needs to observe a calendar of gradual increase for the minimal tax applied per 1,000 cigarettes, thus the value of the excise will reach EUR74 in 2010.
The ministry estimates that the increase in excise will bring revenues worth over RON500 million to the general consolidated budget in the second half of the year.
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