Bulgarian Cigarettes Regain Earlier Excise Duties_x000d_
12.03.2005
Source: Novinite.bg
With the strong intervention of the junior ally New Time party, the government has decided to restore earlier rates of excise duties imposed on cigarettes. As of the beginning of 2005 the Cabinet amended the excise duties of some of the most popular cigarette brands in Bulgaria, with just few of them, mainly imported ones, marking a decrease. Bulgarian brands of Sredets 84mm, Femina Slim and Shipka will now become cheaper, while Victory, Victory Slim, Bulgartabac, and Sredets 100mm will restore BGN 0.05-0.20 in prices. In the end of 2004 then outcast parliamentarians from the New Time party called on to the incumbents to restore earlier excise duties in case that the privatisation of tobacco monopoly Bulgartabac Holding fails to wrap up soon. The restoration of prices aims to protect domestic cigarette production and enhance the market position of Bulgartabac in view with its anticipated sale. The proposed amendments in cigarette excise duties and prices will take effect with the approval from the parliament.