Romania to reduce spirits excise from 2016
Romania is to lower spirits excise by 30%
The Romanian Government has announced plans to lower the excise rate on spirits in the country by 30% from the start of next year, according to trade organisation SpiritsEurope.
The reduction, which comes into effect from 1 January, follows a 40% tax increase decided in September 2013, which the trade body said had "serious consequences" in the Romanian market.
"The 40% increase led to a 32% decline of the legal taxed market, with a revenue loss of about EUR2m (US$2.3m) for the state budget in 2014," said SpiritEurope earlier this week. "The increase not only damaged the legitimate sector without generating the expected revenues for the state, but every week cases of alcohol poisoning due to the consumption of surrogate/denatured alcohol are reported."
The trade association welcomed the move.
Earlier this month, SpiritsEurope welcomed the news around minimum unit pricing.
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