According to the Law of Turkmenistan "On Amendments to the Tax Code of Turkmenistan", the excise rates on alcoholic beverages produced and imported into the country have been changed as follows:

• Regarding beer - they increased from 24% to 26%;

• With regard to natural grape wines, spirits, liqueurs and other alcoholic beverages (except for grape must), as well as wine materials with an alcohol content:

- up to 20% inclusive - excise rates increased from 31% of the cost to 34%;

- over 20% to 30% inclusive - excise rates increased from 48% of the cost to 53%;

- over 30% - excise rates increased from 61% of the cost to 67%.

Excise rates on alcoholic beverages imported into the customs territory of Turkmenistan have changed as follows:

• Regarding beer - increased from 73% of the cost and at least 6 manats per liter to 80% of the cost and at least 8 manats per liter;

• With regard to natural grape wines, spirits, liqueurs and other alcoholic beverages (except for grape must), as well as wine materials with an alcohol content:

- up to 20% inclusive - excise rates increased from 133% of the customs value, but not less than 31 manats per 1 liter to 146% of the customs value, but not less than 34 manats per liter;

- over 20% - excise rates increased from 133% of the customs value, but not less than 48 manats per 1 liter to 146% of the customs value, but not less than 53 manats per liter.

• Regarding alcohol used in the manufacture of alcoholic beverages (excluding those imported for medical purposes, as well as by state-owned enterprises, consumer cooperation enterprises), they increased from 6 USD per 1 liter to 7 USD per 1 liter;

These changes come into effect within the timeframes determined by part two of Article 3 of the Tax Code of Turkmenistan.

The Law of Turkmenistan "On Amendments to the Tax Code of Turkmenistan" was signed by the President of the country on December 18 and published in local newspapers on December 24, 2021.

Previous changes in the rates of excise taxes on produced and imported alcohol and tobacco products were introduced in November 2020.