New tax rates

| December 26, 2017

Azerbaijan will subject imported tobacco products to new excise tax rates, effective Jan. 22, reports AzerNews.

The cabinet of ministers has set the excise for imported cigars at AZN20 ($11.77) per 1,000 pieces and that for imported cigarettes at AZN12 per 1,000 pieces.

The decision follows a sharp reduction in the exchange rate of Azerbaijani manat against the U.S. dollar, which led to an increase in prices for imported alcohol and tobacco products, as well as to a reduction in excise tax collections in manat.

In January-August 2017, Azerbaijan imported tobacco and tobacco products worth $101.9 billion.

Of the 10 billion-plus cigarettes consumed, only 1.6 billion are produced in Azerbaijan

A pack of cigarettes sells for an average of $1.2 in Azerbaijan, compared with $3.5 in Russia.

 

Category: Breaking News

Comments are closed.