Ministry of Finance proposes reducing the administrative burden and amending the inventory procedures applicable upon the entry into force of new excise duties
Today, the Government approved the proposal of the Ministry of Finance to remove the excess obligation for wholesalers to submit inventory documents to the State Tax Inspectorate (STI) when the new excise duty rates enter into force. It was also agreed to harmonise the procedure for recalculating excise duties on e-cigarette liquid with other excise goods.
"Businesses should not be subject to excessive administrative obligations if the same data is already recorded in their accounting systems and can be provided to the State Tax Inspectorate (STI) upon request," Minister of Finance K. Vaitiekūnas states.
Currently, when excise duty rates change, wholesalers are required to submit inventory reports to the STI within five working days detailing their stocks of ethyl alcohol, alcoholic beverages, processed tobacco, and heated tobacco products. It is proposed to abolish this requirement, as inventory data is already recorded in company accounts and the STI can verify it if necessary.
It is proposed to apply the same procedure for recalculating excise duties on stocks of e-cigarette liquid as applies to other goods subject to excise duties. Once new excise duty rates come into effect, wholesalers would be required to take inventory of their stocks of this liquid, recalculate the excise duty on the remaining stock, and pay the resulting difference.