The National Assembly on November 26 passed the revised tax law which will increase special consumption tax on beer and wine and remove the caps on advertising and marketing costs.
Special consumption tax on beer will increase from 50 percent to 55 percent from January 1, 2016. The rate will continue rising to 60 percent in 2017 and 65 percent by the following year.
Wine of below 20 degrees brix will suffer 30 percent tax rate from 2016 which will move up to 35 percent by 2018.
The revised tax law also removes the caps on advertising and marketing costs facilitating businesses to advertise and introduce their products.
