NewsWhore
12-07-2006, 02:10 PM
In a press release, the Cerveceria Nacional Dominicana (that produces Presidente beer) says that beer drinkers will be most affected by the fiscal reform, estimating that they will pay more than 36% of RD$ 17.5 billion the government is trying to collect. Currently there is a tax on beer depending on the percentage of alcohol, but the fiscal reform looks to impose a selective tax on beer. Teodoro Hidalgo, Director of Corporate Affairs for Grupo Leon Jimenes, says that this tax increase means that beer in the DR will become one of the most expensive in the hemisphere. Hidalgo continued by saying that once again it is the beer sector that has to carry most of the tax burden, adding that in the last three years there has been a 134% increase in taxes on alcohol, with 98% coming this year. Hidalgo also pointed out that the increased taxation on beer products would mean that alcohol sales wouldn't be at the levels they were last year. He stated that the increase in the price of alcohol weakens the national beer market because Dominican beers won't be able to compete when international brewers enter the market.
More... (http://www.dr1.com/index.html#13)
More... (http://www.dr1.com/index.html#13)