Wine growers absorbing tax
Wine growers absorbing tax
Jul 1, 2010 6
Surveyed wineries plan to absorb 4c/bottle tax on wine despite many already under financial pressure. Most New Zealand winegrowers have no plans to increase wine prices in spite of a four cent per bottle tax which has just come into effect. Of the wineries surveyed on whether they intended to pass on the increase, 84 percent have indicated they will be forced to absorb the cost.
Philip Gregan, CEO of New Zealand Winegrowers, says many wineries are already suffering financially.
"Times are tough and tax increases with the excise increase and the GST increase further down the track later this year are just going to make times that much tougher for every one of our producers.
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