Taxes on Tobacco, Gasoline &Imported Cars to Increase in 2017

TBILISI - The Prime Minister of Georgia, Giorgi Kvirikashvili, at today’s cabinet meeting announced that from 2017 there will be an increase in taxes on tobacco, imported cars and oil products.

Finance Minister Dmitry Kumsishvili announced that the excise stamp on cigarettes, which is currently 1.1 GEL, will increase by 0.60 GEL. Therefore, the cost of cigarettes will increase by a minimum of 0.60 GEL next year.

He added that the excise stamp on a ton of gasoline will increase by 250 GEL to become 500 GEL.  A ton gasoline (about 1330 liters), will see an increase of 0.19 GEL per liter.

The PM said that with the increase in tax, an income tax reform is planned in order to balance budget revenues.

By Natia Liparteliani