27th June 2014

Excise duty is about to increase

On 27th June the Constitutional and Legal Parliamentary Committee agreed on the proposal of new higher excise duty that was proposed by Ministry of Finance. This means for example the price of cigarettes would be higher by 3-4 CZK. As the level of excise duty is calculated from exchange rate in October the government wants the change of excise duty to be accepted by the end of September to avoid the affection of excised duty by the Czech Central Bank monetary intervention.. The Chamber of Deputies already agreed on shorter period of discussion. The change was, apart from Constitutional and Legal Committee, also approved by Fiscal Committee and it is going to be discussed during second reading.

For more click here and here.

Members of the American Chamber of Commerce in the Czech Republic