EEU Member States to Harmonize Excise Taxes on Alcohol and Tobacco Products

Source from:  Arka News Agency 10/23/2015

Members of the Russia-led Eurasian Economic Union (EEU) will adopt a decision before the end of 2015 to harmonize excise duties on alcohol and tobacco products, Timur Suleimenov, a Eurasian Economic Commission minister for finance policies, told a Eurasian forum in Verona, Italy.

"Since excise taxes on alcohol and tobacco products make up to 50% of the final price, it is important that this tax be the same. We are working now to resolve this extremely complex problem,' Suleimenov said, according to eurasiancenter.ru.

He said EEU member states prepared also a protocol on the exchange of information between their tax authorities. This means that the tax authorities of each EEU member state will receive full information from their counterparts in other states.

In his speech at the forum Suleimenov also called for　a dialogue between the EU and the EEU. He said building relationships, among other things, should reduce the bureaucratic barriers for businesses.

"We can and must cooperate. We need to exchange views, share experiences," the minister said. Enditem