CanyonTobacco.Com: Bulgaria Increases Cigarettes Excise Tax Jan 2008

Bulgaria Increases Cigarettes Excise Tax Jan 2008

Bulgaria's Finance Ministry will increase the excise tax on cigarettes and tobacco, from January 1, 2008, Venetka Todorova, head of the Fiscal Integration Directorate with the ministry announced Saturday.

The Financial Ministry will also increase the excise tax on petrol and diesel fuel.

Cigarettes will cost BGN 0.55 more, the price of petrol will go up by BGN 0.05 and the diesel fuel will be more expensive with BGN 0.08.

The Financial Ministry has also decided to increase the excise tax on coals and electricity. The excise tax for coals will be upped by BGN 1.07.

Some months ago, experts from the country's tobacco monopoly Bulgartabac, said the increase of the excise tax on cigarettes may shrink the official market by 30% and at the same time to make place for more smuggling.

The country will impose a total ban on smoking in enclosed public places in 2009 at the earliest.

Source: Sofia News Agency

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Bulgaria Increases Cigarettes Excise Tax Jan 2008