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Croatian gov't decides to raise excises on fuel, tobacco products

Xinhua, April 17, 2015 Adjust font size:

Croatian government decided on Thursday to raise excises on fuel and tobacco products in order to increase state revenues to curb excessive macroeconomic imbalances.

Croatian Finance Minister Boris Lalovac said higher fuel excises would collect an additional 450 million kuna (64.1 million U. S. dollars) a year.

For 2015, the increase would provide an additional 280 million kuna (39.8 million U. S. dollars) for the budget by the end of year, he added.

The taxes on gasoline and diesel would increase by 0.20 kuna (0.028 U. S. dollars) per litre, he said.

He estimated raising taxes on cigarettes and tobacco products would help increase revenues by 150 million Kuna (about 21.37 million U. S. dollars) a year.

The price of cigarette would rise between 0.6 and 0.9 kuna (0.08 and 0.12 U. S. dollars) per pack after higher taxes are introduced, he said. (1 U.S. dollar = 7.02 Croatian kuna) Endit