Cigarettes and tobacco-based products more expensive

The excise tax on tobacco and tobacco products was increased on July 1, in accordance with the excise calendar.

From July 1 to December 31 of this year, the excise tax on cigarettes will be raised to 99.41 dinars per pack, spread across the said period.

The excise tax will now be 1.71 dinars higher per pack. The previous increase occurred in May, when prices were adjusted in line with an inflation rate of an average of 7.6% from 2023. An increase of around ten dinars per pack is expected.

For imported cigarettes and those produced domestically, in addition to the specific excise tax, a proportional excise tax at a rate of 33% is also applied.

At the proposal of the Ministry of Finance, once a year, the government determines the amounts of the average weighted retail prices in the previous calendar year. The amounts of the minimum excise tax are determined semi-annually, by February 15 and July 31 of the current year.

The liquid for refilling electronic cigarettes increased in price on May 1 and will remain the same until December 31, 2024, with this excise tax amounting to 10.46 dinars per milliliter.

Since 2015, products such as electronic cigarette refills, liquid, and non-combustible tobacco have been classified as excisable products. As of January this year, nicotine pouches, or “snus,” are also included in this group.

The excise tax on tobacco liquid will change from January 1, from 8.64 dinars per milliliter to 9.72 dinars. For non-combustible tobacco, the excise tax will change from 80% of the minimum excise duty on 1,000 cigarettes to 90% of the minimum excise duty (from January 1 to December 31, 2024).

(Biznis i Finansije, 03.07.2024)

https://bif.rs/2024/07/107414/

This post is also available in: Italiano

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