Increasing tax on cigar production in Azerbaijan will not have major impact

Increasing tax on cigar production in Azerbaijan will not have major impact

Baku, Azerbaijan, June 6

By Ilkin Shafiyev - Trend:

Increasing the tax on cigars and cigarillos (thin cigars), produced in Azerbaijan, will not have a major impact on the market of tobacco products in the country, Azerbaijani MP, doctor of economic sciences Rufat Guliyev told Trend June 6.

It is proposed to introduce changes to the Tax Code, which provide for an increase in the tax on cigars and cigarillos produced in Azerbaijan.

According to the changes, a tax of 20 manats will be levied for every 1,000 cigars and cigarillos produced in Azerbaijan. Today, this tax amounts to 10 manats.

The changes will be discussed at a plenary session of the Parliament of Azerbaijan on June 12.

"If changes are made, it will not have any serious impact on the tobacco market in Azerbaijan. Today, cigars and cigarillos account for a maximum of 0.1-0.2 percent of the market in the country. They belong to a higher class of tobacco products than cigarettes and are not products of mass use," said Guliyev.

An informed source told Trend that the production of cigars and cigarillos will start in Azerbaijan in the near future.

According to the State Statistics Committee, in January-April 2018, tobacco products amounting to 11.51 million manats were produced in Azerbaijan. Compared to the same indicator in 2017, this figure has increased by 2.7 times.

(1.7 AZN = 1 USD on June 6)

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Follow the author on Twitter: @IlkinShafiyev

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