A recent hike in beer duties is threatening price hikes in pubs, but Singapore’s Ministry of Trade and Industry is warning sellers of the alcoholic beverage not to raise prices and transfer the burden of those taxes onto consumers.
Reports say the MTI responded to allegations recently published in local media that vendors may soon raise beer prices following expected duty hikes, announced in Budget 2014.
Effective February 21, liquor duties increased by 25 percent
According to the Ministry of Finance, that raise could lead to up to a 20 cent increase of the cost for a single can of beer.
But the Ministry of Trade and Industry urged vendors not to make drastic hikes to beer prices, and to allow market shifts to happen naturally.
Full Content: Channel News Asia
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