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Romanian Specific Excise To Reach EUR35.06 / 1,000 Cigarettes Come Apr 1

The Romanian specific excise will grow, starting with April 1, from EUR27.31 to EUR35.06 / 1,000 cigarettes, while the ad valorem excise will drop from 25% to 23% of the maximum sale price, according to a draft government ordinance
Romanian Specific Excise To Reach EUR35.06 / 1,000 Cigarettes Come Apr 1
17 mart. 2009, 19:26, English

The draft ordinance developed by the Ministry of Public Finance, which will come into force on April 1, proposes the increase of cigarette excises in two stages this year.
 
The first change will be applied on April 1 and will bring an overall excise increase of EUR7, to EUR57 / 1,000 cigarettes, while the second increase, also worth EUR7, will be introduced starting with September 1, when the tax will reach EUR64 / 1000 cigarettes.
 
The excise will grow to EUR74 / 1,000 cigarettes in 2010, while the provision regarding the annual adjustment on July 1 was abolished. Thus, the increase of the excise planned for next year will be applied starting with January 1.
 
The explanatory note, published Tuesday, said the change of the excise will lead to an increase of 22% in cigarette prices.
 
The draft ordinance does not refer to the minimum excise applicable starting with April 1, which will therefore remain at 91% of the total excise.
 
The minimum level of the cigarette excise valid for the interval January 1 – June 30, 2009, is of RON166.79 per thousand cigarettes, up 9% on the value applied in the final half of 2008, worth RON152.72, but down when calculated in Euro, from EUR45.5 to EUR44.64.
 
The total excise worth EUR57 / 1,000 cigarettes is calculated by adding the specific excise, worth EUR35.06 with 23% of the maximum retail price of the best sold products.
 
On the other hand, starting with April 1 the minimum excise will reach EUR51.87 per 1,000 cigarettes.