Finland President Signs Law Amending Excise Rates on AlcoholNovember 29, 2018
The Finnish President’s Office Nov. 23 signed a law amending the excise rates for alcohol products, which is part of the 2019 budget. The law enters into force and generally takes effect Jan. 1, 2019.
The tax increase will be made equally for all beverage groups in relation to the alcohol content of the drink, but nevertheless, the increase in the tax on wine would be slightly higher. The average tax increase is about 2.5%. The increases in different beverage groups are as follows:
- beer 2.7 per cent
- fermented beverages (such as ciders) 2.1%
- wine by 3.7 per cent
- intermediate products (concentrated wines) by 2.9%
- ethyl alcohol (spirits and non-fermented beverage mixes) of 2,0%
As a result of the tax increase, the retail prices of alcoholic beverages would increase by an average of over one per cent. The proposed tax increase would raise the annual collected tax by around EUR 30 million.