Ukrainian MPs committee approves higher excise tax for cigarettes
Source: Yaroslav Zheleznyak/Telegram
Taxes in Ukraine will see considerable increase next year and cigarette prices are puffing along.
Starting January 2025, they will rise by 40 hryvnias, according MP Yaroslav Zhelezniak. The excise tax increase was approved by Ukraine’s parliamentary finance and customs committee. On Wednesday, its 18 members voted in favor of a government bill that will tie cigarette taxes to the euro instead of the hryvnia.
This adjustment aligns with EU directives and aims to gradually raise tax rates to meet minimum levels. The policy is expected to generate an additional 20 billion UAH for the budget next year.
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