Economy

Parliament increases excise duties on beer by 100%, alcohol by 50%, tobacco by 40%

The Ukrainian parliament has passed a compromise bill amending the Tax Code (No. 3688) on provision of the balance of budget revenues in 2016, which includes the doubling of the excise duty on beer, to UAH 2.48 per liter and the increase by 50% the excise duty on alcohol, to 105.80 per liter of 100% ABV.

Some 228 lawmakers supported the bill from the third attempt at the session on Thursday.

The excise duty on dry wine is retained at UAH 0.01 per liter, it is doubled for fortified wine and vermouths to UAH 7.16 per liter and sparkling wine to UAH 10.40 per liter, and it is increased by 300% on low-alcohol beverages to UAH 211.59 per liter.

The excise duty on cigarettes taxed at the specific rate will grow by 40%, to UAH 318.26 per 1,000 cigarettes with retaining of the ad valorem rate at the same level.

The parliament supported the provision that the government is authorized to set bottom wholesale and retail prices of tobacco.

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