Impact of Tax Increase on Tobacco and Related Products in Turkmenistan

Regulations by 2FIRSTS.ai

Nov.30.2023

Impact of Tax Increase on Tobacco and Related Products in Turkmenistan

Turkmenistan increases tobacco consumption tax to 145% in effort to eliminate tobacco usage by 2025.

According to a report from the Golden Age website in Turkmenistan, the country has increased the consumption tax on cigarettes and other tobacco products from 116% of the customs value to 145%. Additionally, the consumption tax on tobacco and tobacco substitutes produced by other industries has been adjusted from 24.4 to 30.5.

In February 2022, Turkmenistan passed a national plan with the goal of transforming the country into a tobacco-free nation between 2022 and 2025. In November of the same year, the country implemented legislation prohibiting the sale of cigarettes to individuals under the age of 21.

In June of this year, the President of Turkmenistan, Serdar Berdymukhamedov, proposed during a National Security Council meeting the need for stricter measures to combat the illegal import, sale, and use of illicit tobacco products, tobacco accessories, hookah mixtures, and e-cigarettes.

The new tax law, set to come into effect on January 1, 2024, is expected to have a significant impact on various industries, particularly those involved in illicit tobacco products.

References:

[1] В Туркменистане изменили ставки акцизов на табачную продукцию

Also Read:

[1] Laos Government Plans to Classify E-cigarettes as Addictive Substances

[2] Russia Takes Action: Monitoring Enforcement of E-cigarette Sales Ban to Minors

#Products #Turkmenistan #E-cigarette Taxes #Product

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