Planning for faster increase of excise tax rate on fuel, cigarettes and alcohol, the Latvian Cabinet of Ministers has backed amendments to the law On Excise Tax.
The amendments set forth raising from 2018 the excise tax rate on unleaded petrol by 7.8%, on leaded petrol by 24%, on diesel by 11% and on liquified natural gas by 12%.
As to cigarettes, their excise tax rate is planned to be increased by 5.5%, from current 67 euros on 1000 cigarettes to 70.70 euros from July 1, 2018.
The rate on wine would go up by 18%, to 92 euros on one hundred liters and on beer by 24%, to 5.6 euros for every volume percent of absolute spirit.
The amendments will be submitted to MPs in the Saeima and could be passed in second reading on July 21. (BNN/Business World Magazine)