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Ben Lobb, Member of Parliament for Huron-Bruce, recently debated Bill C- 232, An Act to Amend the Excise Act, 2001 (Spirits) during its second reading. Lobb’s Private Member's Bill aims to reduce Excise Tax rates for spirit distillers in Canada.
The proposed legislation would set the Excise Tax rate to $6.00 per litre of absolute ethyl alcohol for the first 100,000 litres of production and $11.00 for all production past 100,000 litres.
"Lowering the tax rate for distilleries will increase production and revenue, jobs will be created and more Canadians will be employed," says Lobb.
According to Lobb, the benefits of lower tax rates would not be limited to the distillery industry but Canadian farmers would also benefit from increased sales of alcohol's main components of corn, wheat, barley and rye.
Currently all distilleries, regardless of size
or production output are taxed at the same rate of $11.696 per litre of
absolute ethyl alcohol. Lowering the Excise Tax rate will allow for the
Canadian Spirit Industry to become more competitive on an international
scale and allow for investment into new technologies.
"The Conservative Party continues to work hard to reduce taxes for Canadians and to help foster development in various sectors of our economy," adds MP Lobb.
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Sunday, April 24, 2016