Canada Global(Web News)Finance Minister Chrystia Freeland has announced that the federal government has decided to maintain the annual alcohol excise tax on beer, spirits and wine at two percent for the next two years.
It should be noted that the alcohol excise tax was due to increase by 4·7% on April 1 due to inflation, but Freeland announced today that the increase has been put on hold for now. They have also tried to give some tax relief to some local breweries. Freeland has therefore decided to reduce the excise duty rate on the first 15,000 hectoliters of beer for two years. Freeland says Canada’s small craft brewers are among the best entrepreneurs in the world and are playing a significant role in the country’s economy.
Restaurant Canada applauds the government’s move. Restaurant Canada says that such a large financial relief will also give operators a breather in this era of inflation.
