Alcohol, Financial Services, Legislation, Lithuania, Markets and Companies, Taxation

International Internet Magazine. Baltic States news & analytics Monday, 18.11.2019, 04:16

Lithuanian excise duties on tobacco, alcohol set to rise in March 2016

BC, Vilnius, 09.12.2015.Print version
The Lithuanian Seimas [parliament] on December 8th raised excise taxes on tobacco and alcohol, which will come into effect on March 1, 2016, informs LETA/BNS.

The excise tax rate on tobacco products will increase by 5 to 9%, on wine and other fermented beverages – by 8% and on ethyl alcohol – by 2.5%.

 

As estimated by the Finance Ministry, those measures should bring approximately 18 million euros in extra central government budget revenue in 2016, including 10 million euros in revenue from tobacco excise tax and 8 million euros in revenue from alcohol excise tax.

 

The average price of cigars and cigarillos is expected to increase by 0.05 euros per package, and the average price of cigarettes – by 0.12 euro per package (by approx. EUR 0.16 per package in the cheapest cigarette segment).

 

The average price of beer should grow by 0.01 euros per 0.5 liter bottle, the average price of wine – by 0.01 – 0.04 euros per 0.5 liter bottle and the average price of vodka – by up to 0.08 euros per 0.5 liter bottle.

 

The excise taxes levied on cigarettes and alcohol were last raised in March. The tobacco tax was then hiked by approximately 5% and the alcohol tax – by between 0.2 and 8%.






Search site