Prices of tobacco products increased from 28 to 35 tetris due to increased excise rate

Prices of tobacco products have been increased from 28 to 35 tetris due to the increased excise rate.

As is well known, on 1 January 2016 amendments to the tax legislation took effect, according to which, the excise tax rate increased by fixed 20 tetirs and 5% of the cost.

In addition, the Ministry of Finance explained that the sharp rise in prices at some of the retail sale shops is not related to the excise.

The Parliament of Georgia adopted amendments to tax legislation on December 11. According to the amendments, a fixed rate of excise tax was increased from 1 January 2016. The move was motivated by the strengthening of control on tobacco products.
(IPN)