General fund of the state budget received 8.7 billion UAH of excise tax in July

General fund of the State budget of Ukraine received excise tax on excise goods (products) produced in Ukraine and imported to the customs territory of Ukraine in the amount of 8.7 billion UAH in July 2023. This is 101.3 percent of the revenue indicator set by the Ministry of Finance of Ukraine (0.11 billion UAH was additionally received) and exceeds by 0.9 billion UAH or 11.7 percent revenues of last July.

Fulfillment of revenue indicators was achieved due to additional income from products produced in Ukraine, namely:

liquor and vodka products - by 0.25 billion UAH or 166.1 percent from the set revenue indicator (0.38 billion UAH);

tobacco products - by 0.15 billion UAH or 103.6 percent from the set task (4.2 billion UAH);

wine production (without addition of alcohol) - by 0.05 billion UAH or 153.5 percent from the set revenue indicator (0.09 billion UAH).

In addition, due to introduction at the end of last year of fuel excise tax at the rate of 100 euros/1000 liters instead of the zero rate, and from 07.01.2023 - full excise tax rate, as well as renewal of work of certain fuel producers, positive dynamics of excise revenues on fuel continues to be maintained to the special fund of the State Budget of Ukraine in July. Revenues in July amounted to 0.8 billion UAH, of which additional revenues to the revenue indicator amounted to 0.7 billion UAH.

Also due to implementation of provisions of the Law on the transfer to manufacturers and importers of tobacco products, liquids used in electronic cigarettes of an obligation to pay 5 percent of the excise tax on the retail sale of tobacco products, local budget revenues from this tax increased significantly. For a period January-June 2023, the average monthly amount of 5% excise tax declared by manufacturers and importers is 644.1 million UAH, which is 1.8 times more than the average monthly indicators of January-June 2022 (361 million UAH).