BAKU, Azerbaijan. Feb.12
By Elchin Mehdiyev – Pattern:
The Parliament of Azerbaijan within the second studying permitted the inclusion of all tobacco merchandise within the listing of excisable items, Pattern stories on Feb.12.
On this regard, an modification to the Tax Code of Azerbaijan was submitted for dialogue at a gathering of the Azerbaijani Parliament, held on Feb.12.
In keeping with the proposed modification, it’s envisaged to extend the charges of excise taxes on each the manufacturing and import of tobacco merchandise, and the introduction of pipe tobacco, in addition to tobacco and its merchandise meant for smoking, chewing, absorption, sniffing, all sorts of hookahs within the listing of excisable items.
The respective invoice reminded that the share of tobacco imports in consumption from January by October 2017 amounted to 89.5 p.c, for a similar interval in 2018 – 74.5 p.c, in 2019 – 44.1 p.c, and in 2020 – 12.3 p.c. Thus, the share of home manufacturing of tobacco merchandise in consumption grew as much as 87.7 p.c.
On account of the continuing financial reforms, there was a discount within the stream of foreign money exterior Azerbaijan because of the provision of client demand throughout the nation by native manufacturing and the decreasing of the amount of imports.
In addition to, because of the rise in excise tax charges on tobacco merchandise, the whole consumption within the first 10 months of 2017 made up over 10.6 million models, whereas in comparison with 2020 it decreased to eight.5 million models. On the similar time, in 2017 the whole quantity of funds of taxpayers concerned within the manufacturing and import of tobacco merchandise equaled 87.9 million manat ($51.7 million), whereas in 11M2020 this determine reached 473.5 million manat ($278.5 million), and by late 2020 the whole quantity of tax revenues made up practically 520 million manat ($305.8 million).
In addition to, the provisions of agreements within the discipline of well being care and the necessities of different worldwide organizations present for a phased improve in excise taxes to scale back the consumption of merchandise which can be dangerous to well being.
Following discussions, the doc was put to a vote and adopted within the second studying.