In 1H2024, the government of Georgia received a record revenue from gasoline and diesel excise tax amounting to GEL 303 million, - according to the report published by the Ministry of Finance. As of the document, the mentioned income has increased by GEL 38 million or 14%, compared to the previous year.
According to the tax code, excise tax amounts to 38 tetri per liter of fuel sold in the country. Now, 1 liter of regular brand fuel costs GEL 3.15 GEL, of which excise tax amounts to 38 tetri, while value-added tax (VAT) - 57 tetri, therefore the final share of these two taxes in the price amounts to 95 tetri.
As of the report of the Ministry of Finance, the budget revenues are distributed according to the types of fuel as follows:
Gasoline - 156 million GEL, an increase of 16% compared to the previous year;
Diesel - 126 million GEL, 12% increase compared to the previous year;
Other oil products - 20.3 million GEL, an increase of 15% compared to the previous year.
According to the Geostat, in the 6 months of 2024, Georgia purchased oil products worth USD 631 million from abroad, which was 27% more than the previous year.
