The Ministry of Economy and Finance (MEF) through supreme decree No. 014-2024-EF, confirmed the modification of the selective consumption tax (ISC) for beer, which will go from the current S/2.31 to S/2, 51 gradually. This way, The update of the ISC in the case of this liquor will be in two tranches of S/0.10 each, in March and July.
José Arista, Minister of Economy and Finance, explained that this tax has not been updated for two years, and the fixed amounts of the ISC have requested value as a result of inflation. “Therefore, the update is necessary to recover the tax burden lost due to the price increase of the affected products,” he stated.
The update of the specific ISC, in the opinion of Minister Arista, will not affect the recovery of the economy, and also plays “a deterrent role in consumer behavior.”
The official highlighted that the variation in the ISC for these products does not bring a significant variation in the prices people pay, and “it is at the discretion of the producer whether he assumes the impact of the update or whether he transfers it to the consumer.”
How much will the ISC rise on cigarettes and other liquors?
Since March too An increase of S/0.10 will be applied to cigarettes, the ISC will go from S/0.36 to S/0.37and heated tobacco products (HTC), from S/0.30 to S/0.31.
Meanwhile, the new ISC for pisco will reach S/2.48—after being at S/2.27 for two years.
Drinks with up to 6 degrees of alcohol per liter will now have an ISC of S/1.33; those with 6 to 12 degrees of alcohol per liter, S/2.68; those from 12 to 20 degrees, S/2.89 and those that exceed 20 degrees of alcohol, S/3.97.
Source: Larepublica
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