Budget 2023-24

5% increase on alcohol and tobacco excise duty

June 30, 2023 10:47 am

There will be a five percent increase on the alcohol and tobacco excise duties.

Finance Minister, Professor Biman Prasad says the excise duty on carbonated sugar, sweet and beverages will also increase from 35 cents per litre to 40 cents per litre.

Professor Prasad says the alcohol taxes were reduced by 50 per cent during COVID-19 while taxes on tobacco remained unchanged.

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“We are mindful that alcoholic beverages are an integral part of our tourism industry So we are starting with a very small increase compared to the massive reduction we had two years ago.”

In an effort to curb NCDS and promote healthy living, Professor Prasad announced that a domestic excise of 40 cents per kilogramme or per litre and an import excise of 15 percent will be introduced on juice including carbonated drinks.

This includes Frubu Tropico TECO, Pulpy, Just Juice and Merry Gol, Ice Cream, Sweet Biscuits, snacks and sugar confectionery.

2023-2024 National Budget Address