Excise Tax Rate to Remain Unchanged in 2014 – Bulgaria's Deputy FinMin

Finance | September 9, 2013, Monday // 12:50|  views

Ludmila Petkova, Bulgaria's Deputy Finance Minister, photo by BGNES

Ludmila Petkova, Bulgaria's Deputy Finance Minister, has vowed that the excise tax rate on cigarettes and alcoholic beverages will not increase in 2014.

Petkova, as cited by the BGNES news agency, made clear Monday that the only change in the sphere of excise goods in 2014 would be the introduction of new excise tax stamps for tobacco products and alcohol beverages.

Under an EU Directive, Bulgaria must reach a minimum excise tax rate of EUR 90 per 1000 cigarettes by end-2017.

Petkova informed that the excise tax rate was to increase gradually in the period 2015-2017, reiterating that the level would remain unchanged in 2014.

Asked whether cigarette prices in Bulgaria were expected to go up in 2014, she said that a price hike, if any, would be unrelated to excise duty rate.

Petkova, as cited by economynews.bg, drew attention to the fact that excise duty on cigarettes was slated to provide around 6.1% of the government's total receipts in 2013, emphasizing the crucial importance of the policy for determining the excise tax rate, the efficiency of revenue collection by the customs authority, the elimination of smuggling, and the provision of favorable conditions for the sector.

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Tags: excise duty, excise tax, cigarette excise, cigarette smuggling, lyudmila petkova


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