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Finance Minister: Azerbaijan to double excise tax on alcoholic beverages and tobacco

07.11.2017,12:06


November 7, Fineko/abc.az. Today, the Azerbaijani parliamentarians are holding the discussion of the Draft State Budget 2018.

In the course of debates Finance Minister Samir Sharifov has stated that strengthening of foreign currency to the manat in 2017 has led to the increase in the price of alcoholic beverages and tobacco products in the country, as their price is tied to foreign currency exchange rate.

"In this regard, a decision was taken to increase the excise tax on import of alcoholic beverages and tobacco starting from 2018. The relevant amendments to the Law on State Duty have been drafted and submitted to the head of state," the finance minister said.

He added that the purpose of such a decision is primarily the protection of the local market, prevention of the outflow of foreign currency from the country and ensuring the health of the population.