Excise tax: results of February 2020

Revenues of the excise tax on excisable goods produced in Ukraine to the General fund of the State budget have amounted 4.4 billion UAH in February 2020. Revenues growth in 2020 have amounted 134.1% or 1.1 billion UAH more than in 2019.

Indicative figures have been fulfilled in full from alcohol (142.2%), alcohol beverages (113.3%), beer (127.0%) and tobacco products (100%) due to joint proceeded measures on the un-shadowing of the excisable product market. Moreover, in February 2020, the indicator of the Ministry of Finance on the tobacco tax was determined with a growth of 1.7 times more than in February 2019.

In terms of excisable goods, the biggest increase compared to February 2019 came from tobacco products (+71.3% or +1.4 billion UAH), alcohol beverages (+24.4% or +0.1 billion UAH), ethyl alcohol (+61.5% or +0.004 billion UAH) and beer (+11.0% or 0.03 billion UAH).

“Plan has been fulfilled by all types of taxes except electricity for the first time from the moment when the Ministry of Finance determined indicators in terms of excise products. This became possible due to the systematic un-shadowing measures launched by the Government in autumn. We will make every effort to keep this tendency in the coming months” – emphasized Chairman of the STS Serhii Verlanov.