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Tag Archives: Excise tax

Government: Tobacco Product Reserves Have Been Halved

According to the draft amendments to the Law of State Budget of 2017, tobacco product reserves have significantly decreased during the year in Georgia. Specifically, the draft law states that in 2016, Georgia had average supply of 2 month, and in 2017 number has been halved and on average it …

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Excise Tax Structure Changes on Alcoholic Beverages

Excise tax structure will be revised in compliance with requirements of Georgia-EU association agreement, Minister of Finance Dimitri Kumsishvili said. “We have comprehensively discussed this issue. Taxation of beer and alcoholic beverages is very important. In this way we will harmonize our legislation with EU standards and consequently, we will …

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Excise Tax Growth on Tobacco and Alcoholic Products Intensified Smuggling Attempts

tobacco

Growth in excise tax rates on tobacco and alcoholic products has intensified smuggling attempts, Revenue Service head Giorgi Tabuashvili said. “Certainly, number of similar cases has increased, however, our service actively cooperates with investigative structures to expose smuggling facts and prevent them”, he said. Excise tax growth has intensified smuggling …

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Whether Oil Companies Raised Fuel Prices before Upturn in Excise Tax

Starting January 1, 2017 excise tax has increased on automobiles and fuel. «Excise tax will increase on imported vehicles and I would like to note that excise tax will be several times lower compared to rates in neighboring countries. Excise tax will  also increase on oil products», Prime Minister Giorgi …

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Large Business About Negative Events Occurred in 2016 – Initiatives That Have not Met the Expectations of Businessmen

businessbusiness

The excise tax increase, labeling for  soft drinks, seasonal tax for tourist business – it’s a small list of the government’s initiatives or unfulfilled promises which more or less caused trouble to the large businesses. Nevertheless, the businessmen interviewed by  “Commersant” can’t name  specific factors which hindered  the development of their …

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Experts and Cigarette Importers Expect Smuggled Goods to Saturate Market

Irakli Nadareishvili

Experts and cigarette importers expect that smuggled products will flood the market. This is the market rule and increased excise tax will bring clear results, expert Irakli Nadareishvili said. Growth in cigarette excise tax will only deteriorate consumer conditions. As reported, Prime Minister of Georgia has announced growth in tobacco …

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Increased Excise Rate – Reduced Industry

Nikoloz Khundzakishvili

What is the fate of the increased beer excise rate and will  the government revise it again, based on the current indicators? “The government must stimulate the industry and revise the incorrect decisions”. The enterprises assert that the government has taken an incorrect decision and the industry bears losses and …

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