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Putin says Russian beer taxes could be raised again

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July 31, 2012, 5:52 p.m. | Russia and former Soviet Union — by Reuters

Russian President Vladimir Putin
© AP

Reuters

SELIGER, Russia - Russian President Vladimir Putin raised the prospect of a further increase in beer taxes on Tuesday as part of the government's long-running campaign to curb drinking.

"Beer alcoholism is a serious problem ... We could raise beer taxes further," Putin said at a forum of pro-Kremlin youth groups.

At the beginning of 2012 Russian taxes on beer rose by 20 percent and according to a Finance Ministry plan, approved late in 2011, they will rise by a further 25 percent in 2013 and 20 percent in 2014.

Shares in Danish brewer Carlsberg, which earns nearly half its profits from the Russian market, slid 5.15 percent by 1416 GMT.

The Russian parliament earlier passed a bill banning internet advertising of alcoholic drinks, while a ban on alcohol advertising in print media will come into force on Jan. 1.

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