DUTY FLOOR

BY KEITH NUTHALL
FLEXIBILITY is required in the regime setting the European Union's minimum excise duty rates for tobacco, says the European Parliament, which has voted for changes to a proposed duty floor of 57 per cent of the retail sale price and Euro 70 for 1000 cigarettes tabled by the European Commission. MEP's voted for a reduced 1,000 cigarette rate of Euro 60, along with an alternative option of allowing Member States to charge a minimum duty of excise and VAT combined of 71 per cent of the retail sale price. The committee claims that the ...


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