According to the Fiscal Code, excise levels are set using the exchange rate announced by the ECB on the first weekday of October, in the previous year.
Excise duties are currently charged by Romania for the production of alcohol and alcoholic beverages, processed tobacco, energy products and coffee.
State budget revenue from excise duties climbed 16.2% in the first eight months of 2011, to 12.46 billion lei (EUR2.9 billion). The share of excise duties in the total budget revenue is over 10%.
In 2012, the Government expects to collect RON21.75 billion from excise duties, 8% higher than the estimate for this year.