New Russian Taxes Hit Bulgarian Wine and Flowers

The Russian government has unexpectedly decided to increase the excise duty on imported alcohol, wine, and cut flowers from "unfriendly countries," including Bulgaria. This new measure, which will take effect seven days after its announcement and remain in place until December 31, 2024, is outlined in a decree recently prepared and approved by the Ministry of Finance, according to Moscow's RBC publication.

The decree includes a significant rise in the excise duties: for strong alcoholic beverages, the rate will increase from 9% to 20% of the customs value, with a minimum charge of 3 euros per liter of 100% spirit, up from the current 1....