Russia to raise excise by 50 per cent

The Russian Ministry of Finance plans to raise tobacco tax by about 50 per cent to bring it closer to European levels, according to an RT Business story quoting Izvestia.

The World Health Organization has suggested Russia needs a seven-fold increase in tobacco tax by 2020.

According to draft legislation, the excise duty on filter cigarettes will be raised from 550 roubles to 820 roubles per thousand cigarettes.