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Romania 2008 excises to be based on 3.3559 RON/euro rate

Vineri, 28 septembrie 2007, 0:00

The Romanian National Bank set an exchange rate of 3.3559 RON/euro for Monday, October 1, the institution announced on Friday. This rate will be used to establish the value of excises to be aplied next year, according to Romanian legislation.

According to the Romanian fiscal code, the value in Romanian lei (RON) of excises, of special car tax and domestic crude tax due to the state budget is established by changing the values in euro-equivalent at the currency exchange rate announced by the central bank in the first working day of October the previous year.

Starting with 2008, the price of excise products such as fuel, electricity, alcohol and tobacco will rise once a year and not every quarter as it happened so far.

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