Venezuela: Beer tax to remain unchanged at 15%

Pursuant to the amended Law on Alcohol Tax, the tax imposed on beer in Venezuela will remain at 15%, El Universal reported on November 25.

The tax rate on wine increased from 15% to 35% and that on the other alcoholic beverages grew from 20% to 50%. The new tax rates will become effective as of February 2015, as announced in the Extraordinary Gazette number 6,151.

Such higher rates are expected to provide 0.17% of Gross Domestic Product (GDP) to the Venezuelan tax authorities, the Executive Office estimated.

28 November, 2014