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Governments OKs Higher Tax on Tobacco; Envisages Plus €16m in 2011
Wednesday 22 September 2010 Zoom in | Print page
Bratislava, September 22 (TASR) - Government on Wednesday gave a green light to the planned increase in the consumer-tax rate on tobacco products. This move is expected to bring an extra €15.9 million into the state budget next year, and another €21.2 million in 2012.
The relevant law has been decided to be amended in view of meeting the requirement by the European Union to introduce gradual hikes in consumer-tax rate on tobacco products up to at least 60 percent of the weighted average price of cigarettes before 2014.
The extra revenues also play well with the Government's attempts to consolidate Slovakia's public finances.
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