The announced increase in excise duties on certain products should increase the budget inflow by €22.5m next year, according to data from the fiscal strategy by 2024, proposed by the Ministry of Finance and Social Welfare.
The plan to increase excise duties on products harmful to health was announced at the beginning of the year, but the Government gave up on that several times. The Ministry’s document finally gives projections of the increase in budget revenues based on excise duties, which many consider unnecessary because they cannot bring significant changes in the habits of citizens. According to data from last month, revenues from excise duties on cigarettes amounted to €6.14m, on alcoholic beverages €1.28m and on carbonated water €567,521.52.
