Tax on tobacco products to rise as of February

Tax rates on tobacco products will rise again as of February 1, 2009, according to a Finance Ministry proposal that was okayed by the parliamentary Economic Committee on September 2.

Tax rates on tobacco products will rise again as of February 1, 2009, according to a Finance Ministry proposal that was okayed by the parliamentary Economic Committee on September 2.

The planned tax increase is due to Slovakia's progressive approach to the minimal tax burden on tobacco products effective in the European Union (EU) that Slovakia promised to implement within five years of entering the EU.

The specific part of the cigarettes tax rate is set to increase by 17 hellers to Sk1.58 (€0.05) per piece and the tax on cigars will rise by 35 hellers (1 euro-cent) to Sk2.45 (€0.08).

"It is the last consumer tax increase (on tobacco products) aimed at reaching the minimum tax burden set by the EU," the Finance Ministry report reads.

The parliamentary Economic Committee has also recommended putting Slovakia's law on sea navigation and the peaceful use of nuclear energy into accord with EU legal framework. TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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