Tue, Feb 09 2010

Bulgaria moots higher excise on beer

Tue, Nov 10 2009 15:29 CET byDnevnik.bg 1288 Views 3 Comments
Bulgaria moots higher excise on beer

Photo: Assen Tonev

Bulgaria’s Finance Ministry was considering an increase in the beer excise duty, sources familiar with the issue told Dnevnik. No details have been agreed yet and the Finance Ministry was not available for immediate comment.

According to proposed amendments to the excise legislation, which were passed by Parliament at first reading, a higher excise duty will only be imposed on cigarettes. Finance Minister Simeon Dyankov said in October that the gambling tax might also be increased. His earlier proposal for a higher excise on spirits was rejected by Prime Minister Boiko Borissov.

Currently, the excise duty on beer is 1.50 leva a hectolitre/degrees Plato, ranging from 0.075 to 0.082 leva a bottle.

The Union of Brewers in Bulgaria (UBB) were taken unawares of the news, saying they have not been approached on the matter. If realised, the plans will deal a heavy blow to local breweries and related sectors, deepening the stagnation prompted by the economic meltdown that dragged down beer sales by 10 per cent in the first nine months of the year, UBB chief secretary Ivana Radomirova told Dnevnik.

The move could pull the plug on investments in the brewing industry, setting off a wave of job cuts, UBB said.

Source: Dnevnik

Comments

Anonymous anti-CNN Thu, Nov 12 2009 21:37 CET
Inappropriate comment?

Gerb admin means more excise on tobacco and alcohol and residency taxes..and higher public transport cost

Anonymous Jon Mills Tue, Nov 10 2009 20:49 CET
Inappropriate comment?

At last Bulgaria joins the world of modern democracy. If the public like something - tax it. If they don't like something - make it compulsory under law - then tax it.

Anonymous beerbelly Tue, Nov 10 2009 15:54 CET
Inappropriate comment?

Oh my God......no, please dont put up the excise duty Mr Borissov, clobber the casinos by all means, you cant drink all those Mitsubushis parked at funny angles on the pavements, hit the smokers (I want to quit!), but please leave our beloved Shoumensko alone and dont even consider imposing any duty on the ancient art of village rakiya making ;-)

Write comment

Name:Comment:

Generate new code
Send your comment

By posting a comment, you are deemed to have read and agreed to our
Acceptable Use Policy.

Excise duty on hard liquor and beer to remain the same

MPs accepted Prime Minister Boiko Borissov's plea in defence of home-made rakiya.

Three in a row

Beer, gambling and legal services could be more expensive in 2010

More in this category

Global Toyota Prius recall affects Bulgaria

Toyota made a global statement announced that around 436 000 vehicles worldwide are to be recalled for inspection and upgrade, including the latest Prius model which is sold in 60 countries, Bulgaria included

Construction of Sofia's Serdika Center mall to resume

Builders have met all municipal requirements and will also pay to renovate parks.

Business person of the year contest launched

Non-Bulgarians can also be nominated as long as the company they own or work for has a minimum of five per cent Bulgarian capital.

Christmas shopping fails to cheer up Bulgaria retail sales

The Christmas shopping season has not driven up retail sales in Bulgaria, according to the latest data of Eurostat, the EU’s statistical office.

Just a blip

The global financial crisis has slowed down globalisation, but only temporarily, one study says

Appointments

Fisheries and Aquaculture

Fisheries and Aquaculture

Yavor Nedev has been appointed head of the state National Agency of Fisheries and Aquaculture. He replaces Yordan Staikov who join the team of advisers of Agriculture Minister Miroslav Naidenov. In 2009, Nedev was appointed by Naidenov as director of the recently-founded state Fishery Resources company, which is to manage fishing ports and operate with EU funds. He has been vice president of the Bulgarian - Swiss Chambers of Commerce as well as president of Cherno More football club in Varna. Nedev has also worked as a political scientist and university professor.

© 2000-2010, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.