Alcohol, Lithuania, Markets and Companies, Retail, Taxation

International Internet Magazine. Baltic States news & analytics Friday, 22.06.2018, 11:50

Alcoholic drink prices in Lithuania set to rise next March due to sharp excise hike

BC, Vilnius, 22.12.2016.Print version
he excise tax rate for strong alcoholic beverages will rise by 23 percent next March and that for wine and beer will surge by up to 112%, which will drive drinks prices up by up to 1 euro per bottlel, writes LETA/BNS.

The parliament on Thursday approved the excise duty hike with 95 votes in favor, none against and 19 abstentions.

The excise tax rate for wine and other fermented beverages is set to increase by between 97 and 112% and that for beer by 112%.

As a result of this, the price of fermented drinks with an alcohol content of up to 8.5% will rise by 14%, or 21 euro cents, per 0.5 liters, and the price of stronger drinks will go up by 17%, or 74 cents, per 0.7 liters. The price of beer will increase by 9-13 cents per 0.5 liters.

The price of other alcoholic beverages will grow by up to 1 euro per 0.5 liters.

The draft 2017 budget envisages that the excise duty hike will next year generate around 45 mln euros in additional revenue.

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