Cigarettes have become more expensive
There has been a noticeable 10 percent increase in cigarette prices in Baku starting today.
The price increase varies depending on the brand, and for some it reaches 50 gapik, while for most there is a jump in the range of 20-30 gapik. Retailers unanimously associate this increase with an upward adjustment of excise tax rates, which was the result of amendments to the Tax Code that came into force on January 1 of this year.
The revised Tax Code provides for an increase in the excise duty from 38.5 thousand to 45.5 manats for every 1,000 units of cigarettes and their tobacco-based substitutes. As a result, retail trade is facing the consequences of higher excise tax rates, which leads to the inevitable shifting of these costs to consumers.
This development reflects a broader trend of Governments around the world using excise taxes as a means of supporting public health efforts and filling budget coffers. However, a 10% price increase in Azerbaijan sheds light on the nuances of the consequences for consumers and businesses working in the tobacco industry, highlighting the delicate balance between fiscal policy goals and the economic realities faced by citizens.--0--
Economics
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