EU – Baltic States, Financial Services, Legislation, Taxation

International Internet Magazine. Baltic States news & analytics Wednesday, 14.04.2021, 22:47

Baltic finance ministers imposed veto on EC suggestion to raise tobacco and fuel excises

Danuta Pavilenene, BC, Vilnius, 07.09.2008.Print version
Estonian, Latvian and Lithuanian finance ministers on Friday agreed to impose a veto on the suggestion of the European Commission to set higher excises on tobacco and fuel as of 2015 and to think about the euro adoption in 2011-2012.

At the meeting held in Trakai on Friday, Lithuanian Finance Minister Rimantas Sadzius, Latvian Finance Minister Atis Slakters and Estonian Finance Minister Ivari Padar underlined that each country would have to decide itself on the excises amount, informs ELTA.


Estonian Finance Minister Padar expressed an opinion that all the Baltic states could introduce the euro together in 2011-2012.


In Trakai, the ministers shared opinions on the economy condition in the Baltic states and discussed the implemented fiscal measures. One of the most important topics was the inflation management and the euro introduction prospects as well as the budget formation practice in the light of the economy slow down.


The finance ministers discussed the EU budget revision issues, the countries" position on the negotiations started by the European Commission with the European Free Trade Association member states on their financial assistance in 2009.


Last year, the meeting of the Baltic finance ministers took place in Riga in the end of August.

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