Romania to Raise Excise Taxes on Tobacco and Alcohol
Romania’s government will raise excise taxes on tobacco and alcohol from August 1 in an effort to increase public revenue, according to reports. The measure will be followed by a 10% tax on sugary drinks starting January 1, 2023. Excise rates on tobacco a
Reports indicate that the Romanian government will raise excise taxes on tobacco and alcohol consumption starting August 1, aiming to increase public revenue. Following this measure, a 10% tax will be imposed on sugary drinks starting January 1, 2023.
Since 2015, the excise tax on tobacco and alcohol has remained unchanged.
The EU requires member states to impose excise taxes of at least 60% of the weighted average retail price of cigarettes.
The Romanian government expects these measures to increase budget revenue by 1.2 billion lei (approximately $242 million) this year, and by 10.57 billion lei by 2023.
