Beer consumers are set for a tax reprieve as the government moves to lower the excise levied on the product while slapping higher sin taxes on spirits, wine and cigarettes.
The Finance Bill 2024 proposes a new method of calculating excise on beer, wine and spirits based on pure alcohol content—also known as alcohol by volume (ABV)— unlike the present method which has a flat excise for each of the three types of alcoholic drinks.
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