Georgia shares its tobacco taxation experience at a global session in US
Georgia is joining forces with other countries in the world to create the right policy for tobacco taxation and to reduce tobacco consumption. On this topic a special session was held yesterday in the United States within the annual meeting of the International Monetary Fund and the World Bank.
The Session highlighted that higher taxes on tobacco products reduce tobacco consumption and improve public health, while also increasing government revenues that can be used to fund priority investments and programs that benefit the entire population.
Georgia’s Finance Minister Dimitry Kumsishvili also participated in the event and delivered his speech. In his speech he talked about Georgia’s experience and achievements in terms of taxation of the tobacco products, Agenda.ge reports.
Also, he shared the Government of Georgia’s vision about reducing the tobacco consumption in every segment of the society and especially in young generation.
"Excise tax on tobacco has been growing in Georgia since 2013 and in the last four years it has grown five times. As a result, the number of smokers decreased by 25 percent while the budget taxes increased by 150 percent,” said Kumsishvili.
He also mentioned new tobacco-control legislation in Georgia that was adopted this May and which will come into force stage by stage during and after 2018.