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The government approved the increase of the excise tax on alcohol and cigarettes in Ukraine

The Cabinet of Ministers of Ukraine approved the submission to the Verkhovna Rada the draft Law on Amendments to the Tax Code regarding the revision of some tax rates.

The corresponding decision Government adopted at today's meeting, the news reports "Press of Ukraine".

It is reported that the revision rates are subject to excise duty, an environmental tax and the rental fee. According to the Minister of Finance of Ukraine Alexander Danyluk, appropriate changes will result in additional revenues in the consolidated budget in 2017 to 5.2 billion USD.

"The draft amendments to the Tax Code requires increasing the excise tax by 12%, while the rental fee and the environmental tax will rise over the forecast growth of prices in the industry - 10.3%," - said the head of the Ukrainian Finance Ministry.

It should be noted that in February of this year, the IMF recommended Ukraine to increase the excise tax on alcoholic beverages and tobacco products. According to representatives of the IMF, such changes positively affect Ukraine, because of alcohol consumption in the country is significantly reduced.

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