...

Azerbaijan identifies rationale for raising excise rates on cigarettes and alcohol

Economy Materials 6 November 2023 15:33 (UTC +04:00)
Azerbaijan identifies rationale for raising excise rates on cigarettes and alcohol
Elchin Mehdiyev
Elchin Mehdiyev
Read more

BAKU, Azerbaijan, November 6. Raising excise rates on cigarettes and alcoholic beverages is a recommendation of the World Health Organization (WHO), Head of the State Tax Service of Azerbaijan Orkhan Nazarli said, Trend reports.

He spoke at the discussion of the draft law "On Amendments to the Tax Code" at the meeting of Azerbaijan's Milli Majlis (Parliament) Committee on Economic Policy, Industry and Entrepreneurship.

He stated that WHO proposes raising excise taxes on cigarettes and alcoholic beverages to 60-65 percent.

"We can't do it in one day." "We have announced that excise rates will gradually rise to this level," Nazarli stated.

Cigarette and alcoholic beverage excise taxes are being hiked. According to the proposed Tax Code amendments, the excise rate on cigarillos (thin cigarettes) will be raised from 43 to 45.5 manat (from $25 to $26.76) per 1,000 pieces, as well as cigarettes made of tobacco and its substitutes from 38.5 to 45.5 manat (from $22.65 to $26.76) per 1,000 pieces. The current excise rate for every 1,000 pieces of tobacco products consumed as a result of heating is 14 manat ($8), but according to the project, it will be 16 manat ($9). The excise duty rate on disposable electronic cigarettes, hookahs, and their equivalents has been hiked from 0.25 to 2 manat per piece (from 0.15 cents to $1). The excise rate on drinkable alcohol (including undenatured ethyl alcohol with an alcohol level of less than 80 percent), vodka, fortified drinks and materials for fortified drinks, liqueurs and liquor goods, cognac and cognac ingredients is raised from 4 to 4.8 manat (from $2 to $2.8) per liter.

Champagne's excise duty has been cut from 2.6 to 0.2 manat (from $1.56 to 0.12 cents).

Stay up-to-date with more news at Trend News Agency's WhatsApp channel

Tags:
Latest

Latest