Giorgi Kakauridze, the First Deputy Minister of Finance of the Georgian Dream government, cites tobacco-related regulations as the reason for the delay in the excise tax plan.
As Giorgi Kakauridze explains in a comment released by the ministry, tobacco regulations have reduced its imports, which was also added to the fact that companies had certain stocks. According to the deputy minister, this deficit will be eliminated in the coming period.
"In general, the only tax on which we have a deficit is excise duty, and this also has its own explanation: since certain regulations regarding tobacco came into force this year. In addition, there were stocks to some extent by companies, and accordingly, this deficit in excise duty that we have will be completely eliminated in the coming months and quarters. Therefore, I would like to emphasize once again that the budget execution has not been delayed as of today, and on the contrary, it has been executed with excess,"- Kakauridze said.
