Parliament increases excise duties on beer by 100%, alcohol by 50%, tobacco by 40%

On Thursday night, the Verkhovna Rada has passed a bill amending the Tax Code on provision of the balance of budget revenues in 2016, which includes the doubling of the excise duty on beer and the increase by 50% the excise duty on alcohol. The parliament supported the provision that the government is authorized to set bottom wholesale and retail prices of tobacco.