Tax hike surprise

Government targets alcohol, cigarettes and fizzy drinks to help meet deficit target set by EU

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IT WILL be less of a merry Christmas this year after duties payable on alcohol and cigarettes were increased last Saturday, while fizzy drinks are to be taxed for the first time. However, it’s not all bad news as the duty payable on petrol, diesel and household energy will not rise, for now.

Treasury minister Cristóbal Montoro announced the measures last week as part of the campaign to increase tax revenues to help meet the budget deficit target set by the EU.

Read more in this week’s print edition or go to e-paper

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