Kazakhstan has moved to hike minimum prices for alcoholic beverages. A respective Government’s ruling was published February 3 in Kazakhstanskaya Pravda.
In line with the ruling, the floor price for alcoholic beverages has been increased nearly twofold, with prices for vodka, liquors and other strong alcoholic beverages standing at 1120 tenge per 1 liter ($7.2) to be further increased to 1600 tenge per 1 liter ($10) by 2016. The ruling comes into force February 13.
Previously the floor prices for alcoholic beverages had been raised in 2012, with the min price standing at 640 tenge per 1 liter ($4.2).
Earlier the country’s Prime Minister Serik Akhmetov announced plans to increase floor prices for alcoholic beverages three times by 2016. “We plan to raise excise taxes on alcoholic beverages two fold in 2014 (against 2013) and threefold by 2016. Plans are there to bring the excise tax rates in line with those set by our major trade partners within the Customs Union of Russia, Kazakhstan and Belarus by 2020”, he said, elaborating there were no plans to raise excise taxes on bear and low-alcohol products.