Ukraine expects to see additional $8 million in taxes with increased alcohol prices
Minimum retail prices for alcohol are expected to increase in Ukraine, the Economy Ministry reported on its website on Nov. 22.
The current prices, set in 2021, no longer reflect the real costs of producers and need adjustment, the ministry said.
The government expects that the price increase will increase tax and fee revenues to the state and local budget by 300 million UAH (around $8 million).
Prices for vodka and liquors may rise by 5-13%, wines by 57%, wine products (excluding sparkling and carbonated wine drinks) by 40-85%, and sparkling wines and carbonated wine drinks by 12%.
There are also plans to establish a differentiated level of minimum retail prices for ordinary (non-sparkling) wines, wines, vermouths, and other fermented beverages, depending on the type and capacity of the container.
The proposed minimum price increases are as follows:● Vodka: 4.7% for a 0.5-liter bottle● Brandy (cognac): three stars — 6% for 0.5 liters, four stars — 6.6% for 0.5 liters, five stars — 6.4% for 0.5 liters● Natural grape wines in glass containers with a capacity of 0.7 liters: 57%● Sparkling wines in glass containers with capacities of 0.7 liters and 0.75 liters: 11.9%
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