Russia: Cigarette Prices May Rise 400 Percent

Source from:  Tobacco Journal  10/17/2012

Excise-tax hikes proposed by the Health and Social Development Ministry would raise cigarette prices 400 per cent by the end of 2015, the Moscow Times reported. Citing a story in Forbes Russia, the Times said the ministry proposes raising the tax-per-1,000 cigarettes from RUB 360 (EUR 8.97) to RUB 1,040 next year, and to RUB 4,000 over the next three years. The proposals would result in a minimum tax of RUB 78 per pack, potentially quadrupling cost to the consumer, the Times said on its website. What reportedly has been proposed by the ministry goes beyond draft legislation approved by a Duma parliamentary panel that calls for hiking the tax-per-1,000 to RUB 1,250 by 2015, the Times reported. (pi) Enditem