Diesel fuel, cigarette prices set to rise in Lithuania next year

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Lithuania's excise duty on diesel fuel will rise next January and a hike in the tax on tobacco products will follow in March.

The Seimas on Tuesday passed the respective amendments to the Law on Excise Duties in a vote of 60 to six with 12 abstentions.

The excise duty on diesel fuel will grow to 347 euros per 1,000 liters, from 330.17 euros, and that on diesel fuel used by farmers will go up to 56 euros, from 21 euros.

The Finance Ministry plans that the excise hike will increase the price of the usual diesel by around 2 euro cents and that of fuel for farmers by some 4 cents.

Natural gas used by vehicles will not be subject to VAT starting next year, a measure that the Finance Ministry says will cost the budget around 100,000 euros.

The minimum excise duty rate for cigarettes will next March increase by 5.4 percent to 59 euros and the combined excise duty rate will rise by 6.7 percent to 96 euros per 1,000 cigarettes. The rate for cigars and cigarillos will go up by 12.1 percent to 37 euros.

Source: BNS
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