NEW RAISED EU TOBACCO DUTY MINIMUMS LIKELY TO DEPRESS DEMAND
November 1st, 2009
BY KEITH NUTHALL
MINIMUM excise duty rates on tobacco products across the European Union (EU) are rising and at such rates that demand will almost certainly be depressed in many EU member states. The impact will be especially marked in eastern Europe, where governments have been given additional time to implement hikes in excise duty. Following a fourth four-yearly review of EU excise tobacco rules, the EU Council of Ministers has now approved a new directive on minimum tobacco taxation. It will update existing directives 92/79/EEC, 92/80/EEC and 95/59/EC.
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