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Businesses await signing of the law on increasing tobacco excise rates

15/ 01/ 2025
  The European Business Association is awaiting the signing by the President of Ukraine of Law No. 4115-IX (Law No. 11090), which revises excise tax rates on tobacco products. It is worth noting that the Law was submitted to the President for signing on December 9, 2024, and was intended to come into effect on January 1, 2025. According to MP Yaroslav Zhelezniak, the delay in signing the law has already cost the budget UAH 378 million as of January 14. Previously, the European Business Association supported the adoption of the Law, particularly concerning the excise tax rates on tobacco products. The EBA emphasized the importance of aligning with the European Union’s approach to determining the euro-to-hryvnia exchange rate throughout the year to enable businesses—Ukraine’s largest taxpayers—to plan their operations effectively. The current delay in signing this Law clearly undermines predictability for businesses and creates uncertainty for medium-term operations.

The European Business Association is awaiting the signing by the President of Ukraine of Law No. 4115-IX (Law No. 11090), which revises excise tax rates on tobacco products.

It is worth noting that the Law was submitted to the President for signing on December 9, 2024, and was intended to come into effect on January 1, 2025. According to MP Yaroslav Zhelezniak, the delay in signing the law has already cost the budget UAH 378 million as of January 14.

Previously, the European Business Association supported the adoption of the Law, particularly concerning the excise tax rates on tobacco products. The EBA emphasized the importance of aligning with the European Union’s approach to determining the euro-to-hryvnia exchange rate throughout the year to enable businesses—Ukraine’s largest taxpayers—to plan their operations effectively.

The current delay in signing this Law clearly undermines predictability for businesses and creates uncertainty for medium-term operations.

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