Price of alcohol will not increase Skip to content

Price of alcohol will not increase

Minister of Finance Árni M. Mathiesen announced yesterday that the bill on raising the price of alcohol in Iceland proposed last week has been aborted.

If the bill had been passed, alcohol prices would have increased by up to 17 percent and the state would have profited from the price hike. RÚV reports.

Mathiesen said that the purpose of the bill had been to lower VAT on all food products, not to increase the government’s take from alcohol.

Last week, the Federation of Trade & Services and the Icelandic Travel Industry Association objected to the government’s plans of raising the price of alcohol.

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