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Venezuelan Alcohol Tax Hikes Effective

by Mike Godfrey, Tax-News.com, Washington

19 February 2015


The Venezuelan Government hiked taxes on alcoholic beverages by as much as 150 percent on February 16, 2015.

The tax on wine was increased from 15 percent to 35 percent, while the tax on other spirits rose from 20 percent to 50 percent. Beer was saved an increase.

The tax hikes were first announced in a package of revenue-raising measures published in the country's Official Gazette on November 18 last year.

The package of reforms also included a hike to the excise duty on luxury goods from 10 percent to 15 percent, and the elimination of income tax exemptions for cooperatives, foundations, and associations.

TAGS: tax | economics | Venezuela | fiscal policy | excise duty | tax reform

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