Business entities of Ternopil region transferred slightly more than 11.1 million UAH of excise tax to the state budget during January – August 2020. The actual payment exceeded expected revenues by 6.8%. As a result, the state treasury additionally received 750 thousand UAH of this payment.
Local budgets received 67.2 million UAH of excise tax on the retail sale of excisable products during 8 months of 2020. In addition, they paid 6.8% more than expected, ie another 4.3 million UAH. Revenues growth from this payment has amounted 2.1 million UAH or 3.3% comparing to the same period in 2019.
Reminder! According to of the Budget Code norms, the excise tax on the sale of excisable products by retail trade entities is credited to the city, settlement, village budgets and budgets of the united territorial communities.
Excise tax rate is set at 5% for each unit of sold alcohol or tobacco. The reporting tax period for excise tax payers is a calendar month. Therefore, the payment is paid within 10 calendar days following the last deadline day for submission of declaration.
