Taiwan cuts tax on rice wine, triggering concerns from US, EU
Taiwan cuts tax on rice wine, triggering concerns from US, EU
Aug 19, 2010 6
The Taiwanese government moved Thursday (August 19) to cut taxes on rice wine by reclassifying it as a food ingredient rather than drinking alcohol.The Legislative Yuan officially ratified an amendment to the Tobacco and Alcohol Tax Act, lowering the tax on rice wine sharply to NT$5.4 from NT$29.25 per 0.6-litre bottle. The move will prompt the Taiwan Tobacco and Liquor Corp. to cut its sales price per 0.6-litre bottle of Red-Label rice wine to NT$25 from NT$50.
Under the amendment, the rice wine will be taxed as a culinary wine instead of a distilled liquor, with the tax set at NT$9 per litre.
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