Belarus ratifies agreement on tobacco excise tax policy in EEU states
<p> MINSK, Jul 2 – PrimePress. Belarus has ratified the Agreement on the general principles of the excise tax policy on tobacco products in member states of the Eurasian Economic Union (EEU: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia). </p> <p> </p> <p> The agreement introduces a scheme for reducing gaps between excise tax rates for cigarettes and provides for introducing an indicative rate of the excise tax, with a limited range of deviations assigned to each particular member state. </p> <p> </p> <p> As previously reported, the Board of the Eurasian Economic Commission (EEC) approved the indicative rate of the excise tax on tobaccos at €35 per 1,000 cigarettes. </p> <p> </p> <p> The indicative rate will be introduced in 2024 and will be adjusted every 5 years, with a narrowing deviation range. </p> <p> </p> <p> In practice, national rates of the excise tax on cigarettes in EEU member states may deviate from the indicative rate by 20% at most. </p> <p> </p> <p> The launch of the indicative tax rate was postponed from 2022 till 2024. </p> <p> </p> <p> Indicative rates of excise taxes on tobaccos will be pegged to the exchange rate of the euro to the corresponding national currency of a relevant member state’s of the Eurasian Economic Union (used in budget planning for the next calendar year). </p> <p> </p> <p> As previously reported, in accordance with President Lukashenko’s Ordinance #503 of Dec 31, 2019, the 2020 rate of the excise tax on Price Group 1 cigarettes stands at Br24.9 ($10.3). The rate of the excise tax on Price Group 2 cigarettes stands at Br 62.77. The rate of the excise tax on Price Group 3 cigarettes stands at Br71.97 ($29.7). The excise tax on non-filter cigarettes shall stand at Br19.16 ($7.9). End ($1/Br2.4243) </p>
2020-07-03
Primepress
Belarus ratifies agreement on tobacco excise tax policy in EEU states
MINSK, Jul 2 – PrimePress. Belarus has ratified the Agreement on the general principles of the excise tax policy on tobacco products in member states of the Eurasian Economic Union (EEU: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia).
The agreement introduces a scheme for reducing gaps between excise tax rates for cigarettes and provides for introducing an indicative rate of the excise tax, with a limited range of deviations assigned to each particular member state.
As previously reported, the Board of the Eurasian Economic Commission (EEC) approved the indicative rate of the excise tax on tobaccos at €35 per 1,000 cigarettes.
The indicative rate will be introduced in 2024 and will be adjusted every 5 years, with a narrowing deviation range.
In practice, national rates of the excise tax on cigarettes in EEU member states may deviate from the indicative rate by 20% at most.
The launch of the indicative tax rate was postponed from 2022 till 2024.
Indicative rates of excise taxes on tobaccos will be pegged to the exchange rate of the euro to the corresponding national currency of a relevant member state’s of the Eurasian Economic Union (used in budget planning for the next calendar year).
As previously reported, in accordance with President Lukashenko’s Ordinance #503 of Dec 31, 2019, the 2020 rate of the excise tax on Price Group 1 cigarettes stands at Br24.9 ($10.3). The rate of the excise tax on Price Group 2 cigarettes stands at Br 62.77. The rate of the excise tax on Price Group 3 cigarettes stands at Br71.97 ($29.7). The excise tax on non-filter cigarettes shall stand at Br19.16 ($7.9). End ($1/Br2.4243)