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February 7, 2023

FinMin: Excise duties in 2015 to be in lei, at 2014 value

Excise duties will be calculated in lei in 2015, and not in euros, and these will be maintained at their lei value in 2014, and, as of 2016, these will be indexed to inflation, Public Finance Minister Ioana-Maria Petrescu told.
‘The excise duty in 2015 will be at the same nominal value, in lei, with that from this year. In real terms, the excise duty decreases, because there is an inflation of 1.5 per cent. As of 2016, this value will be indexed to inflation, and basically, this will be the calculation formula – the value in lei indexed to inflation,’ said the Finance Minister.
The Finance Minister said that several possibilities were analyzed and mentioned that she opposed, right from the beginning, a complicated formula that changes from year to year.
‘In the recent past, the calculation formula also contained the leu-euro exchange rate on October 1. This is not necessary. Basically, this was done because, every year, the European Commission must verify whether the excise duty is above the minimum in the EU. The EU must convert into euros the excise duty in each state, they use this exchange rate and compare to see whether the excise duty in euros is above this minimum level. We are above this minimum level, there is no need to consider this euro / leu exchange rate (…) We have decided that the excise duty remain at the same level as in 2014.
Someone who has paid 10 lei this year will pay also 10 lei next year. The excise duty will be expressed in lei. I find it normal, as we are Romania, we pay in lei at the supermarket, we receive our salary in lei, so I do not see why the excise duty should be expressed in euros, it will be expressed in lei.
Next year it will remain exactly at the same value. Basically, the real value of the excise duty decreases, because there is an inflation of some 1.5 per cent,’ said Ioana-Maria Petrescu.


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