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Saturday, 31.01.2015, 18:08
Janek Kalvi – Chairman of the Board of Estonia´s largest alcohol production company AS Liviko – claims that government´s unpredictable changes of alocohol excise tax have put alcohol industry in a tough spot.
Keyword tags: Alcohol, Estonia, Legislation, Markets and Companies, Taxation
Estonian Finance Ministry said on Friday, in response to the complaints of alcohol producers that the state's fast alcohol excise tax increase has forced them to lay off staff and increases the share of illegal trade, that excise tax increases will not be paid by company but consumer, LETA/Public Broadcasting reports.
Company to register the largest share capital in Latvia in 2014 was the alcohol production and sales holding Amber Beverage Group, reports LETA, according to information provided by Lursoft IT.
Joint-stock alcoholic beverage producer Latvijas Balzams operated with EUR 49 million in turnover in the first nine months of the year 2014, which was 1.5% more when compared to the same period last year, when the company achieved EUR 48.3 million in turnover, the company announced in a financial report submitted to the ''Nasdaq'' Riga Stock Exchange, writes LETA.
The Tallinn City Council decided to restrict the sale of strong alcoholic beverages in small shops and forbid selling alcohol near childcare institutions, which means that 124 small stores in Estonia's capital city will lose the right to sell booze in summer 2015, LETA/Public Broadcasting reports.
Company group AB Alita consolidated non-audited activity results for the 9 months of 2014 according to the International Financial reporting standards are LTL 1.0 million (EUR 0.3 million) profit before taxes, the company announced. The unaudited activity result of AB Anyksciu Vynas for the nine months of 2014 according to the International Financial Reporting Standards is LTL 0.3 million (EUR 0.1 million) loss before taxes, informs LETA/ELTA.
The Seimas in Lithuania has adopted amendments to the Law on Excise Duty (draft No. XIIP-2382(2) under urgent procedure. As a result, starting with 1 March 2015, higher excise duty rates will apply to beer, wine and other fermented beverages, intermediate products, ethyl alcohol, cigarettes, cigars and cigarillos, reports BC Seimas’ press service.