bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Monday 14.10.2019 | Name days: Minna, Vilhelmīne
EstoniaEstonia

Excise tax reduction on strong alcoholic drinks causes 20% surge of sales in Estonia

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RU

Two weeks after the reduction of excise tax on strong alcoholic drinks in Estonia sales in the country’s largest trade networks has surged 20%.

Sales of strong alcoholic drinks in Coop network of stores have increased 20%. Sales have increased by a quarter in Rimi network, 10-15% in Prisma network of stores. Maxima has yet to compile data on sales changes, as reported by Estonian newspaper Eesti Päevaleht.

Sales of light alcoholic drinks in Estonia have remained unchanged when compared to 2018. Coop and Rimi explain the surge with the hot summer of 2018, when people bought more beer, cider and other light alcoholic drinks.

As previously reported, from 1 July onward the excise tax on alcoholic drinks in Estonia is reduced by 25%. This was done to reduce the difference between Estonia and Latvia and thereby limit cross-border trade.

Following excise tax reduction, prices have dropped for more than 300 strong and light alcoholic beverages in Prisma stores. In Coop stores prices have dropped for 800 different alcoholic drinks. In Maxima prices have dropped for 50 drinks.

Since 2011, excise tax in Estonia was being increased gradually every year. In 2011-2014 the rate was increased 5% a year and in 2015-2016 it was increased further by 15%. The rate increased by another 10% in the 2017-2018. After the most recent reduction of excise tax, it has dropped below its 2016 index.

In reaction to Estonia’s decision to reduce excise tax by 25% on 1 July, Latvia’s Saeima decided to reduce excise tax for strong alcoholic drinks by 15%. Amendments will come to force 1 August 2019 and will remain in force until 29 February 2020.


Leave a reply

On safe side: Estonian tech minister changes Huawei to iPhone

Estonian Foreign Trade and Information Technology Minister, Kert Kingo, has changed her Huawei smartphone after criticism about alleged security issues with the device of the Chinese brand.

Ukraine's Zelensky to visit Latvia this week

Ukrainian President Volodymyr Zelenskiy will make a state visit to Latvia this week, the Chancery of the Latvian President informed.

Orbán’s party defeated in Budapest election

In the Hungarian municipal election, a rare win has been reached by opposition parties as they joined forces and overcame Budapest mayor István Tarlós from the ruling Fidesz party, led by Prime Minister Viktor Orbán.

Latvian city trio could retain special status after reform, minister says

As the massive Latvian administrative reform is to be discussed in government, its advocate, the Regional Development Minister, has suggested Liepāja, Rēzekne and Daugavpils could retain their special status thus increasing the number of prospective municipalities to 39.

Latvian budget to receive 20 million euros ruled to be criminally acquired

The Riga Regional Court has ruled that arrested 29 million euros have been acquired illegally and that they have to be transferred from a bank to the Latvian state budget, announced the Latvian Office of the Prosecutor General.

Lithuanian Coffee Inn to become part of Narvesen Baltija

The Lithuanian firm SIA Coffee Inn operating in Latvia will be taken over by Norwegian SIA Narvesen Baltija, according to a statement in official gazette Latvijas Vēstnesis.

Programme: Audit of Rīgas karte reveals inflated costs, link to city officials

In Riga public transport, electronic ticketing systems depend on two large service providers, controlled by a businessman linked to the employee of Rīgas karte firm, according to it audit seen by LTV programme De Facto.

Latvian government debt expected to reach 11.65 billion euros in 2020

Latvian government debt could in the end of 2020 reach 11.65 billion euros, the Finance Ministry estimated in a report on government debt trends for 2019 to 2022.

Syria Kurds give towns to al-Assad’s forces facing Turkey’s incursion

As Kurdish-led forces try to fend off Turkey’s military attack in north-eastern Syria they have allowed government forces to move into two border towns. Meanwhile, over 700 people with links to Islamic State terrorist group have escaped from a detention facility in the area.

Polish Law and Justice announces victory in general election

After the Polish parliamentary election, the ruling national-conservative Law and Justice party has claimed victory as exit polls showed another landslide victory. Law and Justice leader Jarosław Kaczyński claimed victory as exit polls showed the party winning 43.6% of votes.

Week in Lithuania: tax reduction for electric cars rejected, proposals on bigger excise duties, property taxes tabled

Last week, in Lithuania, the top news stories were significant tax proposals, as well as criticism from LGBTQ activists against Lithuanian PM and the killing of a famous diplomat’s mother.

BNN summary of the week: Funding for parties. Shortage of money for teachers. Budget estimates

This week Latvia’s government decided to allocate EUR 4.1 million as support for political parties. The final decision will be made by the Saeima. If the legislative draft is supported, political party Harmony would receive the biggest possible amount in 2020 – EUR 800 000, whereas New Unity – EUR 416 535.

Experts call Latvia’s 2020 budget growth outlook «optimistic»

The 2.8% economic growth outlook detailed in the 2020 budget plan is very optimistic, said analytics of different banks, commenting on the budget supported by Latvia’s government in Friday, 11 October.

50 Stockmann employees fall ill with stomach infections during Trakās dienas

Approximately 50 employees of Stockmann supermarket showed symptoms of illness – vomiting and diarrhoea – during the Trakās dienas promotional campaign. Catering for employees of this company is provided by Baltic Restaurants Latvia, as reported by lsm.lv public media.

Peace Nobel awarded for reconciling frozen conflicts in East Africa

The Nobel Peace Prize 2019 has been awarded to the Ethiopian Prime Minister Abiy Ahmed Ali for promoting peace and stability in Africa’s second largest country and in its conflict with Eritrea, the Norwegian Nobel Committee stated on Friday, October 11.

Latvian government to appeal court’s temporary ruling in Muižnieks affair

Latvia’s government has decided to appeal the temporary regulation made in regards to the matter involving Bank of Latvia rector Indriķis Muižnieks, as journalists were told by Education and Science Minister Ilga Šuplinska on Friday, 11 October.

Latvia’s 2020 budget revenue predicted at 9.89 billion, expenditures – at 10 billion

On Friday, 11 October, Latvia’s Cabinet of Ministers supported at an extraordinary meeting the country’s 2020 state budget, the consolidated revenue of which is estimated at EUR 9.89 billion, whereas expenditures – at EUR 10 billion.

Lithuania acts against liquidified CO2 storage under ground

A ban on the underground storage of captured carbon dioxide – such is the plan of a bill that has passed the first hurdle in the Lithuanian legislature. The country’s Energy Ministry is cooperating with U.S. investors planning to test the technology in Lithuania.

Prison Administration guard in Latvia detained for smuggling narcotics

A criminal process for smuggling narcotics has been launched against a 1989-born Latvian citizen working in Prison Administration, as confirmed by State Revenue Service’s Tax and Customs Police.

Ministry: national minority schools have the same problems and Latvian schools

Schools of national minorities have the same problems as Latvian schools – shortage of teachers, low wages of teachers, as well as shortage of education materials, as concluded at a meeting of Education and Science Ministry’s Advisory Council for Education of National Minorities.

Estonian drunk-driving judge takes responsibility

A judge in Estonia, who has been caught by police driving a vehicle, while being heavily intoxicated, has filed his resignation from the positions he holds.

Sports funding suspected of flowing through LOK president’s and executive committee member’s pockets

The shadow of suspicion regarding improper use of funding intended for athletes in Latvia is growing thicker and darker. The money allocated for Latvian sports is, possibly, not spent on development and support of athletes, but instead put in the pockets of Latvian Olympic Committee president Aldons Vrubļevskis and LOK executive committee member Aivars Lembergs, according to documents available to BNN.

Romania loses government weeks before presidential election

The government of Romania, headed by social-democrat Viorica Dăncilă, has been removed from power in a no-confidence vote.

Welfare Minister approves of opening Latvia’s labour market for foreigners

Latvia’s Welfare Minister Ramona Petraviča supports the idea to open Latvia’s labour market to citizens of third countries. This position was voiced by the politician on Thursday, 10 October, during an open meeting of the Agriculture Organizations Cooperation Council.

60 000 civilians seek refuge in Syria after Turkey’s offensive

In northern Syria, after Turkey launched an offensive to establish a zone, where three million Syrian refugees currently in Turkey, could return, tens of thousands of civilians have fled, while many more are at risk.