Cyprus Reduces Rates in Amended EU Tobacco Tax Bill (1)

Cyprus has lowered 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.

The nation, 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 1,000 items, and on heated tobacco products from €300 to €280 per kilogram, or €95, down from €100 per 1,000 items, to allow countries to comply with the new rules in the ...