Through a tax reform changed the formula for payment of the Special Consumption Tax (ICE) for this year. The new formula, according to the distiller sector meant an increase in the price of this product up to 400%.
From Wednesday, March 11 a new measure that will impact the sector will be added: a Safeguard tariff of 25%. This is an additional tax that applies on the tariff imported beverages already have, a sort of double fee or surcharge.
The aim is, according to the Government, to reduce the imports to prevent the outflow of currency and protect the national economy.
Sparkling wine, malt beer, vodka, cream liqueur, brandy, pisco, extracts to produce brandy, whiskey, wine, rum, gin and Geneva, grape (to produce wine), and others are included in the list of products impacted by the safeguard.