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Parliament approves higher excise tax on cigarettes

The prices of cigarettes is set to go up as of February.

The prices of cigarettes is set to go up as of February.

On September 17, parliament approved raising the excise tax rate from Sk1.41 (€0.0468) a piece to Sk1.58 (€0.0525). This is the last excise tax rate hike in order to put the minimum tax burden in line with EU directive. The revision also increases the minimum excise tax rate per cigarette from the previous Sk2.10 (€0.0697) to Sk2.45 (€0.0813).

MPs also decided that ten-cigarette packs will only be produced in Slovakia or imported until January 31, 2010 and sold until July 31, 2010. The Finance Ministry expects the revision to bring additional state budget revenues of Sk4.5 billion (€149.4 million) in 2008. On the other hand, the shortfall in budget revenues from the excise tax on cigarettes will reach Sk4.6 billion (€152.7 million) in 2009. Additional revenue of Sk1.3 billion (€43.15 million) is expected only in 2010, according to ESA 95 methodology. SITA

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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