Thus, starting from 1 January 2013, the excise duties on excisable goods will be calculated using an exchange rate of 4.5223 RON/EUR, the rate which was published by the European Central Bank on 1 October 2012.
The exchange rate to be used during 2013 to determine excise duties in lei is 5.16% higher than that used during 2012 (4.3001 RON/EUR).
All excisable goods will be affected by this exchange rate increase, i.e. alcohol and alcoholic beverages, tobacco products, energy and coffee.
In addition, there will also be some increases in the harmonized excise duties rates in euros for some excisable products. Thus, the excise duty for diesel will increase starting from 1 January 2013 from 374 EUR/tonne to 391 EUR/tonne (an increase of 4.5%) and the excise duty for cigarettes will increase starting from 1 July 2013 from 79.19 EUR/1000 cigarettes to 81.78 EUR/1000 cigarettes (an increase of 3.3%). So in Romania, these products will be affected both by the increase in excises in euros and also by the increase in the excise rates in lei resulting from the depreciation of the leu against the euro.
As Valentin Durigu, Senior Manager in KPMG in Romania’s Indirect Tax Department comments: "Given the increase in the exchange rate and of harmonized excise duties rates, I expect the prices of excisable products to rise next year. For example, given the combined effect of the two elements and also the effect of the increase in VAT (VAT applies to excise duties), we estimate an increase in diesel price in 2013 of at least 3%, provided that, excluding the increase in excise duties, the current structure of the diesel price remains unchanged. Of course, economic operators may decide to absorb some of this increase or to charge a higher price, depending on their specific situation."
In addition, changes in the price of diesel may take place for reasons other than the change in excise duties - for example, changes in oil prices on the stock exchange. As Ramona Jurubiţă, Partner in KPMG in Romania’s Tax Department states: "An increase in the price of excisable products, especially energy (fuel, oil, and gas) can also lead to increased prices for other products, taking into account the impact energy products play in determining the price of almost any product (because their price affects the cost of production, transport, etc.)."