Estonian beer producers predict fiscal year tax gap to reach €100 million
The inflow of alcohol excise duty into the Estonian state budget will total €240 million this year, some €100 million less than budgeted, the Estonian Breweries Association estimates.
"Based on actual receipts in the first six months of 2018, we estimate that the full-year inflow of excise duty will total approximately €240 million euros," association CEO Peeter Võrk said in a press release on Wednesday.
"Cross-border trade between Estonia and Latvia has evolved on a very large scale over the past year and a half, and there is no indication of stability or a peak having been achieved," Võrk explained. "Therefore we forecast that alcohol excise duty and related VAT receipts will decrease further this year and in the following years. It also deserves mention that receipts this year will be significantly lower than the forecasts the Ministry of Finance has revised, so to speak, on multiple occasions."
Infow of alcohol excise duties into Estonia's state budget in the first six months of 2018 totalled €119 million, €2.9 million or 2.4% less than during th same period last year. Compared to the first half of 2016, receipts were down €8.9 million.
The Estonian Breweries Association is an umbrella organisation for major Estonian producers of beer and other low-ABV beverages.
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Editor: Aili Vahtla
Source: BNS
