Starting January 1, 2024, consumers can expect a surge in the prices of liquor products manufactured by the Distilleries Company of Sri Lanka PLC (DCSL).
The impending price adjustments will see an increase of Rs. 90, Rs. 50, and Rs. 20 per 750ml, 375ml, and 180ml, respectively, across all DCSL liquor brands.
This price hike is directly linked to the recently approved Value Added Tax (VAT) amendment.
The VAT (Amendment) Bill, passed in Parliament on December 11, mandates an increase in the tax rate from 15% to 18%. Consequently, consumers will experience the impact of these revised rates on DCSL liquor products as the company aligns its prices with the updated tax structure.
The announcement has drawn attention to the broader economic landscape, prompting discussions on the potential implications for both consumers and the liquor industry as a whole.
