site.btaParliament Votes to Increase Excise Duty for Cigarettes

Parliament Votes to Increase Excise Duty for Cigarettes

Sofia, November 23 (BTA) - Parliament voted Wednesday to increase the excise duty for cigarettes. The specific excise duty will be raised to 101 leva from 70 leva per 1,000 cigarettes according to revisions to the Excise Duty and Tax Warehouses Act.

The revision changes the ratio of the specific component (expressed as a fixed amount per 1,000 cigarettes) to the ad valorem component of the excise duty for cigarettes. The ad valorem component will be 27 per cent of the sale price from January 1, 2017, and 28 per cent from January 1, 2018.

The aim is to reach the minimum levels of taxation in the EU by 2018.

The excise duty may not be below 168 leva per 1,000 cigarettes after the beginning of 2017 and below 177 leva after the beginning of 2018.

The current minimum rate is 161 leva.

The changes to this law will bring about changes in another six laws.