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BULGARIA

Cigarette tax hike proposed

07 Sep 2010. According to a Novinite news story, the Bulgarian ministry of finance has proposed adjustments in the tax system, including a hike in excise for cigarettes.

According to the proposals, posted at the Ministry's website, cigarettes up to 8 cm (filter excluded) will be taxed at the regular rate, cigarettes 8-11 cm taxed at a double rate, and products 11-14 cm at a triple rate.

The proposals, which aim at increasing revenue for the 2011 state budget as well as harmonizing Bulgarian regulations with EU norms, further include a unified VAT for the tourist sector, a new offshore tax, as well as increases in the rates for fuels. (pi)

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