Excise Becomes Electronic
09 February, 2012
Excise Becomes Electronic

Excising system is to become electronic in Georgia soon and supposed to cut down expenses for business.

On February 3, 2012Revenue Service (RS) of Georgia and the Swiss company SICPA Security Solutions SA signed an agreement on adoption of the electronic system of excise stamp management in Georgia.
The novelty is handy to both Revenue Service and business alike as makes things simpler from many points of view. The system enables the Revenue Service to control production and turnover of

any production of any company instantly in on-line regime. Moreover, the system helps to define whether or not the product is original or falsified.
On the other hand, on-line system spares business from burdensome paper-work related time and expenses.
“It was in line with the RS interests to adopt electronic system of excise marking that accordingly makes available electronic registration of excise taxes in order to have modern technologies in this field too, which will enable us to impose an immediate control on identification which company produced what and how much product entered the market,” Jaba Ebanoidze, Head of Revenue Service, said during the signature event.”This is an effective control tool and also consumers can find out whether or not certain product is a counterfeit.”
According to RS, the new excising system enables both paper and immediate marking of excise as well as non-excise goods; creation of unified centralized system of data management; getting information on both locally produced and imported goods in real time; control/monitoring of marked product turnover at consumer market, registration and reduction of producing defects in local enterprises; protection of consumers from falsification.  
RS announced competition for Excise Stamp Management Electronic System Adoption in November of 2011 and seven companies participated in it. The Swiss SICPA Security Solutions SA won the competition as is met the competition terms completely. The system offered by the winner company implements marking through a unique code imprinted either on a stamp or goods. Product circulation of the production line is supervised by special equipments produced by the Swiss company and they implement identification and marking of goods, as well as quality control of stamps and activation of the stamp’s unique code in the data base.   If any defect is revealed during the quality control the defected product automatically is removed from the production line that eases registration of production flaws to entrepreneurs and insures uninterrupted production process. 
According to Ebanoidze, installation of the special electronic marking machines will be free of charge for business, and the price of excise stamp depends on the product type.
For example, costs for marking of tobacco and bear/alcohol drinks differ. Besides, the cost depends on production capacity of an enterprise. The high production capacity enterprises will adopt electronic marking that spares an entrepreneur form extra costs.  Comparatively low productive capacity enterprises will continue marking by paper stamps. Importers who used paper excises up to day can go ahead with it too.
According to Ebanoidze, the marking cost will be fixed EUR 5 per 1000 product units that is by 2-3 folds cheaper compared to the region and the EU countries.
Levan Kalandadze, an economic analyst, like the electronic excising idea as a whole for he expects it should ease life to business. He just fears that some technical mistakes can create difficulties on the first phase but the system will get smoother gradually, he believes.
“Transportation and logistics of paper stamps was quite burdensome to companies, the electronic format will cut down costs by all means,” Kalandadze said.   
Up today Georgian revenues service excised only alcohol and tobacco product however it plans to excise lemonade and mineral waters too in future. Government works on a legislative initiative to this end. The decision was made for increased risks in lemonade and mineral water production recently.

Print
Other Stories
0% commission and free delivery for 100 days - what is MRKT, which appeared on the Georgian market during the pandemic
0% commission and free delivery for 100 days - a Georgian startup created during the pandemic offers very unusual proposals to its customers.
Georgia Acquires Up to 400,000 COVID-19 Tests and 50 Ventilators With World Bank Support
With the World Bank's $80 million Emergency COVID-19 Response project financial support and mediation, the government of Georgia was able to procure 147 000 Rapid COVID-19 Antibody and Antigen Test Kits and 250 000 PCR Test, that will triple Georgia's testing capacity to 3000 samples per day by mid-July, - reports World Bank.
Georgian business associations establish Georgian Tourism Industry Alliance
Business associations representing various sector of the hospitality industry in Georgia agreed to establish Georgian Tourism Industry Alliance (GTIA).
IMF approves $200 million for Georgia
The Executive Board of the International Monetary Fund has approved US$200 million financing to Georgia to address the effects of the COVID19 pandemic.
Georgia will be one of the first to open tourist corridors, Economy minister vows
Georgia’s Minister of Economy and Sustainable Development Natia Turnava pledged that Georgia would be one of the first countries to open safe tourist corridors with other countries.
Georgia’s GDP may contract 4%, the worst in the region amid pandemic
International Monetary Fund forecasts a 4% contraction of Georgia’s economy, which very much depends on tourism and money transfers.
Georgian retailers fight for survival as coronavirus pandemic continues
Pandemic has affected everyone worldwide, but one of the most vulnerable are retailers, those who depend on consumers and their spending.
Georgia remains the fifth in terms of budget transparency
According to the 2019 Open Budget Survey (OBS), conducted by the International Budget Partnership (IBP), Georgia got 81 points out of 100 in state budget transparency, the Transparency International Georgia said on Wednesday.
Georgia to receive €1.16 million for agriculture development
Within the GRETA project, the EU, Sweden and Austria launched the Local Development Initiative (LDI), to create great economic opportunities in the organic agriculture sector for farmers, farmer groups, cooperatives, processing units as well as other actors along various organic value chains.
Products rotten amid nationwide lockdown in Georgia
Food chain security is becoming more and more important as lockdown stays in place and farmers cannot transport their products from one place to another.
Georgian government to spend GEL 3.5 billion within crisis management plan
Georgian government has introduced a crisis management plan that consists of different stages. GEL 3.5 billion will be spent to cushion economy but this amount does not cover the post-crisis recovery period.
Georgia to receive €183 million from EU to fight Coronavirus
Due to the economic crisis caused by the pandemic of the coronavirus disease COVID-19, the EU has proposed a new package of macro-financial assistance.
Air traffic to be halted until May 22, GCAA says
Air traffic in Georgia will stay halted until May 22, 2020, Georgian Civil Aviation Agency says in a statement.
Georgian PM discusses support packages from ADB, EBRD
Prime Minister of Georgia Giorgi Gakharia held a video conference with the presidents of the EBRD and ADB regarding the possible assistance and financial resources to be allocated to Georgia due to the challenges associated with the global pandemic.
EBRD to provide €1 billion to Georgia, other countries
The EBRD and Georgia are stepping up cooperation as the country's economy faces the challenge of the coronavirus outbreak – says an official statement published on ebrd.com.
Government closes ski resorts in Georgia over COVID-19
The season at the ski resorts of Georgia closes ahead of schedule, the Prime Minister’s spokesman, Irakli Chikovani, said at a briefing.
Georgia will export armored vehicle Didgori Warrior
A new Georgian armored vehicle Didgori, equipped with a 120mm mobile mortar module, will be exported under the agreement signed between the Military Scientific-Technical Center Delta and one of the countries of the Middle East, the Ministry of Defence said.
Korter: Reliable housing property data in Georgia
It's not a simple job to find fresh homes. But when you use the estate choice service Korter, everything becomes distinct.
Rent a car in Tbilisi – Parent.ge
Are you thinking of booking the best vehicles for your next trip at a very reasonable price? If yes, then this is one of the best decisions you can ever make for yourself.
Pleasant Sunday for the whole family – Renewed Sunday’s brunch at The Biltmore Tbilisi Hotel
Summer, the season of endless fun and vacations, has ended and Tbilisi has become a usually crowded city.
GEL devalues, officials show optimism though
Devaluation of the national currency has sent shockwaves among citizens in Georgia. Officials think that the trend will return to its normal frame, though.
ProCredit Bank’s 20 years of challenges and successes in Georgia and what it means to be a responsible bank
“The bank’s 20-year long presence in Georgia was marked by many challenges and success stories.
Comments on alarming GEL devaluation
The National Bank of Georgia set a new exchange rate, according to which, dollar price became GEL 2.9507 on Tuesday.
Euronews and Silknet sign an MOU to launch “Euronews Georgia”
Euronews and Silknet, Georgia’s leading telecommunications company, are announcing the signing of an MOU in view of launching Euronews Georgia, a news channel and digital platform aimed at a Georgian-speaking audience.
Green Diamond starts to hand over flats to owners as second stage of construction finishes
Second stage of construction of Green Diamond living apartments by MAQRO Construction has finished and process of hand over of flats to owners has started.
PHOTO OF THE DAY
GEL Exchange Rate
Convertor
27.09.2020
28.09.2020
USD
1
USD
3.3332
3.3332
EUR
1
EUR
3.8812
3.8812
GBP
1
GBP
4.2365
4.2365
RUB
100
RUB
4.2875
4.2875
Other Stories
Recently Toyota rolled out Global Campaign under this slogan that reflects the Olympic and Paralympic Spirit of Encouragement,
A couple from Switzerland combines Swiss tradition and technology with Georgian products. Their cheese is made in the Georgian mountains and sold in local stores and hotels.
It has been more than five years since the residents of Lilo village, near Tbilisi, cannot open their windows.
63 000 GEL was received by the Georgian Agro Export Group which is just a small part of the European Neighbourhood Programme for Agricultural and Rural development.
Georgian entrepreneur Guka Tavberidze, who runs his own business in the UK and does it quite well, has been invited by BBC
The grand opening of 7-star The Biltmore Hotel Tbilisi took place in Georgia’s capital on July 31.
DUSHETI, Georgia – The Georgian government and the World Bank will allocate USD 5.6 million (12 million GEL) to fund
A new Georgian clothing brand named Person has emerged in Georgian market.
Georgia is in the midst of an economic maelstrom, Euronews reports.
Situation at Georgia’s mineral water market is interesting: over the last year, the volume of export has grown by 56 percent. According to “GeoStat”, over $114 million worth of mineral water was sold
GEL Exchange
USD
1
USD
3.3332
EUR
1
EUR
3.8812
GBP
1
GBP
4.2365
RUB
100
RUB
4.2875
September 2020
Mon Tue Wed Thu Fri Sat Sun
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30