Israel to raise tax on alcoholic beverages

Jerusalem, June 5 (IANS) Israeli Finance Minister Yair Lapid has signed a decree to raise the purchase tax on alcoholic drinks by 25 percent.

As of July 1, the purchase tax on alcoholic beverages would be $28.5 per liter of alcohol, instead of $23 per liter.

Lapid surprised alcohol consumers in the country by bringing the decree into effect five months earlier than expected.

The Israeli government expects to gross in an estimated 200 million shekels (about $54 million) as a result of the hike.

According to the tax authority, the new measure is in line with the government’s policy to tax goods with negative effects, such as beverages with high alcoholic volume and cigarettes.

The alcohol tax hike was first introduced in the 2013-14 austerity budget which the new Israeli government has drafted to cover its deficit that hit 42 billion shekels ($11 billion). The budget stipulates tax hikes and cuts in social services budget.

The opinions, beliefs and viewpoints expressed by authors, news service providers on this page do not necessarily reflect the opinions, beliefs and viewpoints of Hill Post. Any views or opinions are not intended to malign any religion, ethnic group, club, organization, company, or individual. Hill Post makes no representations as to the accuracy or completeness of any information on this site page.

Leave a comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.