New tax on sugary drinks reduced consumption by 10-15%

The new tax on sugary drinks, in place since January, has raised the prices of carbonated sweetened beverages by 30-50% and syrups by 100%, according to the beverage union AVNN. Cheaper drinks in larger bottles were hit hardest, meaning that low-income households were affected the most. AVNN described the VAT cut on drinks from 20% to 19% as a cosmetic change with no real impact. Beverage sales fell by 10–25%. The government expects to collect €69m in tax revenue this year and €94m in 2026.

(hnonline.sk)