Mon. Jul 15th, 2024

Prices – space: how much will you have to pay for a pack of cigarettes after the increase in excise duties

Natasha Kumar By Natasha Kumar Jun16,2024

Prices – space: how much will you have to pay for a pack of cigarettes after the increase in excise duties

Prices of cigarettes in Ukraine will increase significantly/freepik

In Ukraine, draft law No. 11090 was adopted in the first reading. It will lead to a significant increase in cigarette prices.

After the first stage of excise tax increases, which may occur as early as 2024, the cost of a pack of cigarettes in the middle price segment may increase from 87.14 to 92.8 hryvnias As reported by OBOZ.UA, in the article, in four years the price of a pack of cigarettes may reach about 173 hryvnias.

The excise duty is set in euros, so the hryvnia exchange rate forecast published by the IMF is taken into account to estimate the cost. The forecast also used the exchange rate of the dollar to the euro 1.07/1.

According to the calculations of the editors:

  • before the revision of the rules – 87.14 hryvnias per pack (according to the State Statistics Service )
  • in 2024 – 92.8 hryvnias per pack;
  • in 2025 – 127.4 hryvnias per pack;
  • in 2026 – 142, 1 hryvnia per pack;
  • in 2027 – 155.8 hryvnias per pack;
  • in 2028 – 173.6 hryvnias per pack.

< p>

Prices – space: how much you will have to pay for a pack of cigarettes after the increase in excise duty

Change in the cost of a pack of cigarettes over the years/OBOZ infographic

Thus, after the adoption of the changes, an increase in income from cigarettes is expected: in 2025 – by 612 million hryvnias , in 2026 – by 5 billion hryvnias, in 2027 – by 9.3 billion hryvnias, in 2028 – by 13.8 billion hryvnias. The Committee on Finance, Tax and Customs Policy of the Verkhovna Rada recommended adopting the document with certain changes.

Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my natasha@thetimeshub.in 1-800-268-7116

Related Post