Trademagazin > News and articles > Market News > Huge revenue due to 25-30 percent rise of alcohol tax
Huge revenue due to 25-30 percent rise of alcohol tax
Turkey's Finance Minister Mehmet Simsek pointed out that he expected a government move to raise a special consumption tax on alcohol by 25-30 percent to bring in $556.5 million in extra revenue.
This year's budget had already factored in extra revenue from tax hikes that would raise alcoholic beverage prices by 4 to 12.5 percent, Simsek said.
The government expects to collect 3.76 billion lira in tax revenue from sales of alcohol this year, up nearly 33 percent from last year.
Islam prohibits the consumption of alcohol.
Related news
More related news >
Related news
Every sip is a new chapter – the BB wine and champagne family is completely renewed and takes the next level
By analyzing and rethinking every stage of winemaking, the Balatonboglár-based…
Read more >NGM: decisions have already been made on the development plans of more than fifty companies in the Demján Sándor Capital Program
Despite pressure from Brussels, the government is doing everything it…
Read more >Budapest among the world’s 50 most innovative cities
Budapest has been named one of the world’s 50 most…
Read more >