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Azerbaijan revises excise duty rates on tobacco products

Economy Materials 1 November 2021 15:07
Azerbaijan revises excise duty rates on tobacco products

BAKU, Azerbaijan, Nov. 1

By Elchin Mehdiyev - Trend:

Excise duty rates for tobacco products are being revised in Azerbaijan, Deputy Finance Minister of Azerbaijan Azer Bayramov said during discussions on amendments to the law "on State Duty" at today's meeting of the Committee on Economic Policy, Industry and Entrepreneurship of the Milli Mejlis (parliament), Trend reports on November 1.

According to Bayramov, in this regard, changes are envisaged in two directions.

"Excise rates will increase, as well as duties for the registration of excise stamps. Most of the increase in budget revenues is expected from these changes. Looking at the WHO figures related to excise taxes, special taxes that are applied in the world on tobacco products, Azerbaijan is one of the countries with the lowest duty in this area. But taking into account social issues, we do not sharply increase duties in this area,” Bayramov said.

It is noted that the amendments to the law "on State Duty" provide for an increase in the amount of some state duties and the introduction of new ones.

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