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Excise tax for tobacco products proposed to be raised
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    Excise tax for tobacco products proposed to be raised

    RIGA, Feb 12 (LETA) - According to information obtained by LETA, it will be proposed to increase the excise tax for tobacco products.

    This proposal for tax changes from 2021 to 2025 made by the Finance Ministry is just an initial proposal and will first be discussed with social partners, meaning that there could be some changes.

    According to the proposal, the excise tax for cigarettes will be raised by five percent in 2021, meaning the the price for a pack of cigarettes will increase by about EUR 0.15. There will not be an increase in the excise duty in 2022, but in 2023 there could be another five percent increase.

    The specific tax for 1,000 cigarettes is EUR 78.7 at the moment, and will rise to EUR 82.6 per 1,000 cigarettes in 2021, and to EUR 86.7 in 2023.

    This tax increase is expected to bring in an additional EUR 4.7 million in revenue to the state budget in 2021, EUR 5.2 million  in 2022, and EUR 9.3 million in 2023.

    It has also been proposed for a gradual increase in the excise tax for other tobacco products and electronic cigarettes, which will still be determined.

    • Published: 12.02.2020 12:53
    • Raivis Spalvens, LETA
    • ¬© The given news may not be republished in any way or amount, or otherwise used by the mass media or Internet websites, without written permission of LETA. If this provision is not observed, the matter will be taken to court pursuant to the laws and regulations of the Republic of Latvia.
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