According to reports in the national media, the Czech government is set to discuss the possibility of increasing 'sin taxes' on tobacco and alcohol products at a cabinet meeting on Wednesday.
Daily news service, Hospodarske Noviny revealed this week that the Finance Ministry has proposed increasing the levy on the country's best selling brands of cigarettes from 40% to 44%, and raising the tax on spirits to 265 crowns ($9.12) per litre, from its current level of 234 crowns per litre.
Each of the proposed tax hikes will need to receive the approval of parliament before passing into law. However, according to Reuters, further excise tax increases are expected by 2007, as this was a precondition of the country's accession to the European Union, set to take place next year.
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