Tobacco companies against higher taxes

Three of the world's biggest tobacco companies with factories in Serbia criticized higher cigarette excise tax without agreement with the industry.

Izvor: Beta

Friday, 03.12.2010.

09:36

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Three of the world's biggest tobacco companies with factories in Serbia criticized higher cigarette excise tax without agreement with the industry. This would have negative impact on business and the attracting of foreign investors to Serbia, they said. Tobacco companies against higher taxes Philip Morris International Director for South East Europe Skip Bornhuetter said that, according to the Serbian Finance Ministry's plan, the excise tax would be about RSD 20 higher per pack of cigarettes as of 2011. "We are surprised and disappointed with the behavior of the Finance Ministry, which intends to increase the cigarette excise tax more than previously agreed with tobacco companies," Bornhuetter told a news conference held jointly by Philip Morris, Japan Tobacco and British American Tobacco. Bornhuetter also said that the revenue from the excise tax and VAT on cigarettes accounts for 12 percent of Serbian budget revenues and that the government and Parliament had through the Excise Tax Law pledged to maintain a specific rate of excise tax growth by the end of 2012, in agreement with the tobacco companies.

Tobacco companies against higher taxes

Philip Morris International Director for South East Europe Skip Bornhuetter said that, according to the Serbian Finance Ministry's plan, the excise tax would be about RSD 20 higher per pack of cigarettes as of 2011.

"We are surprised and disappointed with the behavior of the Finance Ministry, which intends to increase the cigarette excise tax more than previously agreed with tobacco companies," Bornhuetter told a news conference held jointly by Philip Morris, Japan Tobacco and British American Tobacco.

Bornhuetter also said that the revenue from the excise tax and VAT on cigarettes accounts for 12 percent of Serbian budget revenues and that the government and Parliament had through the Excise Tax Law pledged to maintain a specific rate of excise tax growth by the end of 2012, in agreement with the tobacco companies.

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