Poroshenko gave the nod to the sharp rise in prices of cigarettes and alcohol

President of Ukraine Petro Poroshenko has signed №5132 “On amendments to the Tax code to ensure a balanced budget of revenues in 2017” (the excise tax and rent). This is evidenced by the data on the website of the Verkhovna Rada.

The law provides for the increase of excise duties on alcohol and tobacco products.

So, the excises on beer and spirits will rise 12% and the excise tax on tobacco products is 40%. According to experts, as a result of higher excise tax rates on cigarettes cheap in 2017 will grow to 20 hryvnia for a pack or more expensive – up to 40-50 USD.

The document, in addition to increasing excise taxes, provides for the introduction of cash registers for small shops and sellers of household appliances.

The bill also establishes a system of distributing subsidies to farmers. Restrictions on subsidies are introduced only in 2018 – then the subsidy could be restricted to one manufacturer and related entities in the year of $ 150 million

Recall, the Verkhovna Rada adopted the law “on a budget” Tuesday, December 20.