Tax Hike Could Raise The Price Of Beer

The head of corporate affairs at Mexican brewer Femsa has revealed that a government plan to impose taxes on alcohol could raise the average cost of beer by 11%. Genaro Borrego called the plan 'excessive' and suggested that it would mean that taxes would represent 50% of the cost of beer. The proposal comes at a time when the beer industry is already suffering due to the economic downturn. However, so far sales have not been affected as much as might have been expected given the rapid deterioration in the domestic

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