Bulgaria will not cut cigarette excise duties - Finance Minister

Bulgaria will not cut cigarette excise duties - Finance Minister

Bulgaria's Cabinet would not cut the excise duties imposed on cigarettes and tobacco in 2010, Finance Minister Simeon Dyankov said on June 17, as quoted by Dnevnik daily.A day earlier, Interior Minister Tsvetan Tsvetanov said that excise duties could be cut at the end of the year to reduce incentives for contraband.Asked whether the Cabinet would reduce the excise duties in 2011, Dyankov would not dismiss the prospect, but said that it was unlikely.The increased excised duties were imposed starting January but new cigarette prices went into effect in April, so it was too early to tell what the impact of the increased duties were on Budget revenues, Dyankov said.Heightened contraband was as much a result of the global financial crisis and was a growing problem for all European Union countries, Dyankov said.

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