Slovakia
In the latest example of a government attempting to mask the shortfalls of its own weak economic policies and poor fiscal planning, Slovakia’s finance minister Ivan Miklos stated that his government has taken a decision to raise the excise taxes in order to make up for financial losses resulting from the global financial crisis.
The new jump in tax rates is meant to prop up falling government revenues for the 2012 state budget. The move follows last month’s cut of Slovakia’s 2012 economic growth forecast by a full percentage point down to 3.4% (from the original estimate of 4.4%).
The new excise tax increase will be implemented in two phases: one in February 2012 and the second in January 2013. According the country’s Finance Ministry, the measure will raise €31 million (US$41.93 million), but will still fall short of the €240 million of additional revenue needed to stay on track with the required cut in budget deficit.
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Tobacco Asia 
Industry Spotlight Tobacco excise tax hikes
Industry Spotlight Tobacco excise tax hikes
Tobacco excise tax hikes
Quarter 1, 2012
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