Daily News: Economics
May 5, 2015
REVENUE SERVICE ASSURES THAT AD VALOREM TAX NOT TO INCREASE RISK OF BLACK MARKET EXPANSION
PR manager of Revenue Service Khatia Moistsrapishvili assures that introduction of ad valorem tax (a tax proportional to the price of the object being taxed) on tobacco production will not increase risk of black market expansion, explaining this by protected customs structure. To note, the government plans to introduce ad valorem tax of 5% for a pack of cigarettes since July 1.
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