YEREVAN. – Armenia will increase the excise tax on alcohol, tobacco, and gasoline.

The respective bill on Excise Tax was approved at Thursday’s Cabinet session.

The Minister of Finance, Gagik Khachatryan, noted at the meeting that excise rates in Armenia are changing due to start of the process of synchronization with excise rates of the Eurasian Economic Union—which includes Armenia, Russia, Belarus, and Kazakhstan.

In addition, Armenia will “import” excise tax for compressed natural gas.