Excise tax is a type of state tax. This type of tax is calculated and paid to the state budget. It is paid for several types of goods prescribed by law. It is taxed both for their import and for their alienation by producers of goods.
The basis for determining the excise tax is the type of goods, the price of its release, customs value and volume. The excise tax rate also applies.
Excise tax is paid on the following goods.
Ethyl alcohol, alcoholic beverages, beer, wine,
tobacco products-industrial tobacco substitutes, cigars, cigarillos,
lubricating oil, gasoline, diesel fuel, crude oil, petroleum products, petroleum gases, other gaseous hydrocarbons, compressed natural gas.
The excise tax is paid by importers with taxable items by excise tax. As well as manufacturers and sellers of goods considering to excise tax.
If you are going to import goods subject to excise tax, you must pay for it within 10 days from the date of import.
Individuals might pay excise tax in addition to individual entrepreneurs. The law specifies specific cases for this. When natural individuals import items subject to excise duty into the Republic of Armenia, this is deemed importation for the purpose of entrepreneurial activity.
Goods imported by individuals are considered to excise taxation when the quotas of imported goods exceed the explicit trade quotas of goods imported into the Republic of Armenia:
By the way, the law specifies the procedure for libelling certain excisable items imported into Armenia and manufactured in Armenia. It states that alcoholic beverages and tobacco goods imported into Armenia and manufactured there are subject to mandatory libelling with excise stamps.
If you are going to import goods subject to excise tax, you can use the services of a customs broker. A customs broker will not only give you advice, but also help you prepare the appropriate documents for the payment of excise tax.
Do you want to get advice on excise tax? Register on Brokers.am website. Fill out an application on the website and get offers from many customs brokers.
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