Under Romania’s Tax Code, the level of the excise duties is set using the exchange rate announced by the ECB on the first working day of October of the previous year.
Romania levies excise duties on drinks and alcohol, processed tobacco, luxury items, coffee and various energy products.
The country collected total revenues from excise duties worth RON13.8 billion in the first eight months of 2013, up 1.5% on the year.
In September, the government has increased the level of alcohol excise duties and announced a series of new taxes on luxury items to counteract the fiscal effects of a lower sales tax on bread.