Under Romania’s Tax Code, the excise duty rates are calculated based on the leu/euro exchange rate announced by the European Central Bank on the first working day of October of each year.
For 2012, the excise duty rate was calculated at an exchange rate of 4.3001 against the euro.
Romania collected 13.65 billion lei (EUR3.17 billion) from excise duties in the first eight months of 2012, up 9.5% on the year. The amount is equal to 10.9% of the total revenue to the general consolidated budget.
The government expects total revenue from excise duties of RON19.04 billion in 2012, down from RON19.96 billion initially estimated.