According to a source in the alcoholic beverage industry, the alcohol tax on beer and stout is expected to go up by 10 percent this week.
“We do not know by how much the government will increase the tax. It is now at 15 per cent and we think it can go up by an additional 10 per cent,” the source said.
“The manufacturers are now preparing a plan to raise their prices depending on the percentage announced by the ministry. Beer and stout will definitely cost more.”
Based on the reports by The Malay Mail Online, The Finance Ministry is expected to announce the revised rate at a press conference tomorrow. The last tax revision was a decade ago.
Malaysia has the third highest tax on alcohol worldwide and also the 10th largest drinking population worldwide spending an estimated RM2 billion annually on alcoholic beverages.