Singapore Budget 2014:
Liquor Duties to rise to 25% from 21st February 2014
“The so-called “sin” taxes on ………………………………………….., with alcohol taking the biggest hit.
Excise duties for all types of liquor will rise by 25 per cent…………………………..”
Attached link: www.straitstimes.com/the-big-story/budget-2014 is a brief excerpt from the Budget report: …
Source: www.straitstimes.com
Many China baijiu enthusiasts will not be pleased to know that they will have to pay more for their favourite baijiu here in Singapore with effect from 21st February 2014. The Singapore Government has announced in the Budget 2014 report that the liquor tax will be increased by 25%. With increasing labour and business costs most F&B premises and retail outlets have to undertake, this increase in liquor tax, though can be argued as a social merit in the form of a deterrent to the individual liquor spending, it has posed another challenge in eroding the F&B outlets’ profit.
So China baijiu enthusiasts, be prepared to pay more for your quality branded China baijiu.