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MPs Back Tobacco Tax Hike, State to Earn Extra €16 million in 2011
Wednesday 01 December 2010 Zoom in | Print page
Bratislava, December 1 (TASR) - Parliament at its session on Wednesday voted in favour of an increase in excise-tax on tobacco products, with the move expected to bring an extra €15.9 million into the state budget next year and another €21.2 million in 2012, TASR learnt later in the day.
The Government decided to amend the relevant law partly in order to meet a European Union requirement to introduce gradual hikes in consumer-tax on tobacco products so that it reaches at least 60 percent of the weighted average price of cigarettes by 2014.
The extra revenues will also assist the Government in its attempts to consolidate Slovakia's public finances.
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