Nov 09, 2017

Beer prices to drop?

The Gazette notification with regard to the new tax structure proposed for alcoholic beverages is to be issued tonight (09), internal government sources say.

Sources add that prices of beer will be decreased by Rs. 100 accordingly.

Taxing alcoholic beverages according to its alcohol percentage is a common practice in most countries.

The government hopes to decrease the public's consumption of illicit alcohol as well as beverages with high alcoholic content.

In his budget speech today Finance Minister Mangala Samaraweera also added that the Nation Building Tax (NBT) will be levied on liquor from April 1, 2018.

Earlier, media reported that the poster campaign was launched to opposed this new tax structure.

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