Cyprus Reduces Rates in Amended EU Tobacco Tax Bill

Cyprus has decreased rates on cigars, heated tobacco and other tobacco-related products in a bid to get a tobacco excise bill approved by June, according to an amended bill seen by Bloomberg.

Cyprus, which holds the EU’s rotating presidency and is responsible for shepherding bills through the bloc’s legislative process, proposed lowering rates on cigars from €143 ($168) to €95 per 1000 items, and on heated tobacco products from €300 to €280 per kilogram, or €95, down from €100 per 1000 items, to allow countries to comply with the new rules in the bill, ...