The minimum cigarettes excise duty will be worth 39.5 euros/1,000 cigarettes in the January 1 - June 30 2008 period, 4.55% more than in the first half of 2007, following an order issued by the Ministry of Economy and Finance. Calculated in RON, the minimum excise will reach 132.6 RON / 1,000 cigarettes, down from the value seen in the second half of 2007. According to the Fiscal Code, the minimum excise duty is established on a six-month basis, depending on the trend of the excise duty for the best-selling category of cigarettes. For 2008, the Fiscal Code has decided on an excise increase from 41.5 euros / 1,000 units to 50 euros/1,000 units for cigarettes and cigars, with the excises to increase by around 20%, to 66 euros / kilo for cigarette rolling tobacco and other types of tobacco. For processed tobacco products, the excise duties will come into effect on July 1 of each year, in line with commitments made by Romania in the negotiation process with the EU. Romania must perform a gradual increase in the minimum tax per 1,000 cigarettes, so that the excise would reach 74 euros by 2010. 2008 will also see increases in excises for electricity, diesel oil, black oil and natural gas, fuels used by the population for heating. Excises will be calculated based on an exchange rate of around 3.35 RON/EUR, lower than the one used this year, of 3.53 RON/euro.
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