Volume of tobacco products subject to taxation grows in Azerbaijan (PHOTO)
Baku, Azerbaijan, July 11
Thanks to the measures taken by Azerbaijani Ministry of Taxes in the sphere of production, turnover of excisable goods and the work being carried out to attract business entities to taxation, high dynamics is observed in tax revenues of this sector, Trend reports with reference to the Azerbaijani Ministry of Taxes.
In January-May 2019, the production of alcoholic beverages and energy drinks (production volume attracted to the excise tax) increased by 15.7 percent compared to the same period last year, the excise amount increased 2.5 times, and the turnover of producers of alcoholic beverages increased 1.6 times.
For five months of the current year, the volume of tobacco products subject to taxation increased by 18.4 percent, the excise amount 5.6 times and the turnover of the manufacture of tobacco products grew 3.7 times compared with the five months of last year.
The growth of this sector became possible thanks to the creation of new production facilities, as well as in the result of ensuring transparency in the field of production and turnover estimates.
One of the factors affecting the increase in tax revenues regarding tobacco product manufacturers is related to an increase in the excise amount. Excluding this factor, the growth in the excise amount for tobacco products is 12.5 percent.