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PRICES OF ARMENIAN WINES AND BRANDIES YOUNGER THAN 10 YEARS WILL NOT RISE
/ARKA/
November 18, 2011
YEREVAN
YEREVAN, November 18./ARKA/. Proposed changes to the Armenian Law
on Excise Stamps will not affect the prices of Armenian wines and
brandies not older than 10 years, Deputy Minister of Finance Suren
Karayan said during a parliament Q&A session on Thursday.
He said the changes propose to equalize the excise tax applied to
imported and locally produced alcoholic beverages. He said the changes
set also ad valorem rate, which means that taxes on expensive alcohol
will rise, cutting their consumption.
According to him, the changes do not apply to excise taxes on wines,
as wine is a traditional drink directly related to viticulture.
Karayan said the changes are expected to boost export of wines and
brandies.
"We equalize imported and locally produced alcoholic drinks to meet
the demand of our foreign partners, and also eliminate discrimination
against Armenian alcoholic beverages outside the country," he said.
The deputy minister said that proposed changes are expected to generate
over 5 billion drams in additional revenue in 2012.
Armenia has now about 20 small and medium-sized wineries and about
40,000 farmers are engaged in viticulture. Some 90% of the grapes is
used for production of brandy. Chilean and Argentine wines are sold
in Armenia at 3,000 drams, while the cheapest Armenian winces are
worth from 500 to 800 drams. The most expensive wine in Armenia is
10,000 drams.
According to statistics, from January to September Armenia produced
about 9.4 million liters of brandy, which was 17% more than in the
same time span in 2010, and wine production increased by 9% to 4.1
million liters.
The parliament is considering now a package of government-designed
changes to a string of laws which are supposed to help collect 101
billion drams in additional revenue next year.
/ARKA/
November 18, 2011
YEREVAN
YEREVAN, November 18./ARKA/. Proposed changes to the Armenian Law
on Excise Stamps will not affect the prices of Armenian wines and
brandies not older than 10 years, Deputy Minister of Finance Suren
Karayan said during a parliament Q&A session on Thursday.
He said the changes propose to equalize the excise tax applied to
imported and locally produced alcoholic beverages. He said the changes
set also ad valorem rate, which means that taxes on expensive alcohol
will rise, cutting their consumption.
According to him, the changes do not apply to excise taxes on wines,
as wine is a traditional drink directly related to viticulture.
Karayan said the changes are expected to boost export of wines and
brandies.
"We equalize imported and locally produced alcoholic drinks to meet
the demand of our foreign partners, and also eliminate discrimination
against Armenian alcoholic beverages outside the country," he said.
The deputy minister said that proposed changes are expected to generate
over 5 billion drams in additional revenue in 2012.
Armenia has now about 20 small and medium-sized wineries and about
40,000 farmers are engaged in viticulture. Some 90% of the grapes is
used for production of brandy. Chilean and Argentine wines are sold
in Armenia at 3,000 drams, while the cheapest Armenian winces are
worth from 500 to 800 drams. The most expensive wine in Armenia is
10,000 drams.
According to statistics, from January to September Armenia produced
about 9.4 million liters of brandy, which was 17% more than in the
same time span in 2010, and wine production increased by 9% to 4.1
million liters.
The parliament is considering now a package of government-designed
changes to a string of laws which are supposed to help collect 101
billion drams in additional revenue next year.