Canada's Finance Minister Chrystia Freeland capped excise tax increase on beer, spirits, and wine at 2% for 2 years, supporting local craft breweries and the foodservice industry.
Canada's Finance Minister Chrystia Freeland announced tax relief for the country's small breweries, capping an inflation adjustment for excise taxes on domestically produced beer, spirits and wine at 2% for the next two years. The government previously set to increase the tax duties on beer, wine and spirits to 4.7% as of April 1, 2024. This move is aimed to support local craft breweries, who face rising production costs, and to provide financial relief to the foodservice industry.
March 09, 2024
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