22.Apr .2021 13:30

The budget received 307 mln GEL from excise taxes

The budget received 307 mln GEL from excise taxes
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The budget received a revue of 307 million GEL from excise taxes in Q1 2021, which is 37% more compared to the determined plan.

Excise taxes apply to several products in Georgia, including tobacco products, petrol and diesel, as well as alcohol beverages and beer.

According to the Revenue Service, a total of 32.4 million excise stamps were issued for tobacco products, 7.2 million - for beer and 1 million - for alcoholic beverages. The statistics do not provide information on the excise tax on gasoline and diesel fuel.

As for the revenues from other taxes, in the first three months of this year, the budget received 779.5 million GEL from income tax, which is 98% of the first quarter plan; 976.4 million GEL - from VAT, which was 98% of the first quarter plan. Profit tax revenue was 430 million USD, up 94.5% of the first quarter plan.

In total, 2.66 billion GEL has been collected in the budget from taxes, which is 100.3% of the Q1 plan.