Romanian Govt OKs Cigarette Tax Hike From July 1

The Romanian government approved on Tuesday a rise in excise taxes on cigarettes to EUR50/1,000 cigarettes from the current EUR41.5/1,000 units, measure leading to an average price rise of 0.39 lei (EUR1=RON3.6639) per one package of cigarettes.

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Under the approved draft, the new cigarette excise tax will be applied starting July 1, 2008, to comply with EU norms.

Romania must respect a gradual calendar for the increase of the excise tax, until reaching the value of EUR74 in 2010.

The Ministry of Economy and Finance said the cigarette excise tax hike should boost state budget revenues by RON533 million, in the second year-half.

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