Tax increases on alcohol and sodas “possible” – Minister

Up to €75 million could be raised if taxes go up on booze and sugary soft drinks next year.

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File picture showing cans of soft drinks / Credit: iStock

The government is planning to raise taxes on alcohol and soft drinks, according to a report in business newspaper Kauppalehti today.

But Finance Minister Mika Lintilä (Centre) says while it’s “possible”, no decisions have been made just yet.

A tax on booze could help raise €50 million for government coffers; while a tax on sugary sodas could raise up to €25 million.

Lintilä told journalists in Brussels that decisions on tax increases will be made in the autumn budget, but that there’s been no decision yet on a timetable for increases to drinks taxes.

“It is possible that it will happen” Lintilä told journalists, as the government keeps an eye on recent alcohol tax reductions in Estonia, to see what impact it has on the Finnish domestic alcohol sales.

The preparation of the national budget for 2020 starts in August and published during early October.