2024-09-19 16:41:32
The Treasury loses out on uncollected excise by announcing in advance when it will raise rates and cigarettes will rise in price
To have a limit on the quantities of cigarettes with old banderoli that traders do not release for sale before each increase in excise rates. This is proposed by the Ministry of Finance with changes to the law on excise duties and tax warehouses.
Ludmila Petkova’s office announced changes to five tax laws for public discussion.
For two years now, the finance ministry has been announcing in advance its plans to raise excise rates and correspondingly new cigarette prices in order to have predictability. However, this created “an opportunity for unscrupulous behavior on the part of some economic operators, who at a preliminary stage, before the date of entry into force of the new higher excise rate, released for consumption large quantities of tobacco and tobacco products at the old lower excise rate , resulting in foregone benefits from excise revenue”.
In order to prevent similar practices, Lyudmila Petkova’s department proposes to limit the number of invoices applied for and received by taxpayers. In the reasons, it is specified that the proposed change will not make it difficult for the operators, since at any moment he will have such a number of unglued banderoli, which, however, does not exceed those sold by him in the last three months.
Changes to the exemption regime for international postal items are also proposed. Freight forwarders will report within 5 working days of postal items of individuals that contain excise goods in commercial quantities for control purposes.
The finance department also proposes that e-cigarette liquids of the “do-it-yourself” type and “partial mixtures” be taxed with excise duty.
Stay tuned for details on changes in other tax laws as well